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Disney In Play

This is interesting:

NEW YORK (AP) - In a stunning move, cable TV giant Comcast Corp. proposed early Wednesday to buy Walt Disney Co., the iconic entertainment powerhouse, for stock valued at about $54 billion. It said Disney chief Michael Eisner had rebuffed its request for talks.

The nation's biggest cable systems operator said it would also assume $11.9 billion in Disney debt.

Comcast's proposal was made even as Eisner is fending off criticism from former board members Roy E. Disney, the nephew of founder Walt Disney, and Stanley E. Gold about his performance and lack of a succession plan as Disney's chief executive.

Comcast's proposal was made even as Eisner is fending off criticism from former board members Roy E. Disney, the nephew of founder Walt Disney, and Stanley E. Gold about his performance and lack of a succession plan as Disney's chief executive.

Comcast said Eisner declined earlier this week to discuss a possible merger.

Is this the end of Michael Eisner?

Update: Stephen Bainbridge covers the challenges (past and present) to Eisner rule in much more detail.


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Comments (2)

Since Comcast can get away ... (Below threshold)
Fritz:

Since Comcast can get away with charging me $60 per month for basic cable, they will probably be able to pull off a Disney merger, too.

Can you say AOL-Time Warner... (Below threshold)

Can you say AOL-Time Warner II? If you have some extra cash I advise shorting both companies.




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