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  1. #1
    Join Date
    Feb 2003
    NYC, USA

    Disney wants advice on $54bn (COMCAST) bid

    NEW YORK -- The board of Walt Disney Co. has asked bank advisers to analyze the surprise unsolicited takeover offer from U.S. cable giant Comcast. Chief executive Michael Eisner said the Disney board met after hearing of the offer and asked management to perform an in-depth study of the proposal so the board could evaluate it. Eisner did not say how long that would take.

    Comcast on Thursday faced a daunting task in selling the blockbuster combination -- and investors have already indicated the proposed price, $54 billion, is too low.

    Disney board members and the financial community are both looking for extremely sound reasons, beyond financial and management abilities, why Comcast believes the acquisition would work, analysts told The Associated Press.

    Two days of meetings between Disney executives and financial analysts at Walt Disney World are likely to reinforce the idea that Disney is on the right track and that Comcast management have yet to offer enough specifics on what they would do differently, some analysts said.

    "Looking more closely, the numbers aren't there," said Harold Vogel of Vogel Capital Management, who is attending the analyst meeting, which began Wednesday and was overshadowed by Comcast's bombshell.

    Vogel said Disney managers are making progress towards key goals, including improving the ratings at its ABC Television network.

    I guess this is good news?

  2. #2
    Join Date
    Jun 2001
    Ottawa, ON, Canada
    Okay... that Eisner is even CONSIDERING this is just more proof that he is completely unfit to lead Disney.
    Are you a Mexi-CAN or a Mexi-CAN'T?

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