Wednesday, February 11, 2004


Comcast makes $54.6bn hostile bid for Disney

""The combination would create one of the world's leading entertainment and communications companies with an unparalleled distribution platform and an extraordinary portfolio of content assets. The new company would have a presence in all of the nation's top 25 markets, and would propel broadband forward, expanding current services and inspiring new ones," Comcast said.


Comcast's proposed deal would leave Disney shareholders owning 42 per cent of the combined company."

The Mouse without Mike?

"Much of the weakness in Disney's share price is due to the perception, merited or not, that CEO Michael Eisner has become a liability to the company. Roy Disney and Stanley Gold quit Disney's board last year over their long-running dispute with Eisner, and have called for his ouster. In another blow, late last month Pixar pulled out of talks to extend Disney's five-picture deal to distribute Pixar films.

Because Eisner has apparently rejected Comcast's advances, it is unlikely that he would have a job at the combined company."
The conspiracy theorist in me keeps wondering if Roy Disney and Stanley Gold had some behind-the-scenes talks with Comcast as well as Pixar and are working together to boot Eisner and shake up the company.

UPDATE (02/12/04):

Kevin Yee at MiceAge has a nice FAQ explaining a lot of the details of the Comcast offer in easy to understand detail....

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