jbooma Posted February 11, 2004 Share Posted February 11, 2004 http://www.msnbc.msn.com/id/4239739/ Comcast proposes buying Disney U.S. cable TV giant makes $54 billion hostile bidThe Associated Press Updated: 10:04 a.m. ET Feb. 11, 2004NEW YORK - In a surprise move, cable TV giant Comcast Corp. proposed early Wednesday to buy Walt Disney Co., the iconic media and entertainment powerhouse that owns the ABC and ESPN television networks, movie studios and theme parks, for stock valued at about $54 billion. The nation’s biggest cable systems operator said it would also assume $11.9 billion in Disney debt. Comcast’s stunning proposal was made even as Disney boss Michael Eisner is fending off criticism from former board members Roy E. Disney, the nephew of Disney 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. “This is a unique opportunity for all shareholders of Comcast and Disney to create a new leader of the entertainment and communications industry,” said Comcast president and chief executive Brian L. Roberts said in a statement. Calls to Disney representatives Zenia Mucha, Michelle Bergman and John Spelich were not immediately returned early Wednesday. Michael Citrick, spokesman for Disney and Gold, said they had no immediate comment. Comcast also released a letter sent to Eisner indicating that Eisner had personally rejected Roberts’ offer to enter into discussions about a merger earlier in the week. The letter from Roberts called it “unfortunate” that Eisner was not willing to enter into discussions. “Given this, the only way for us to proceed is to make a public proposal directly to you and your board,” the letter stated. Under the merger, Comcast said it would issue 0.78 of a share of its stock for each Disney share, and Disney shareholders would retain 42 percent of the combined company. The deal values each Disney share at $25.69, a 7 percent premium over their closing price Tuesday, or more than $5 billion total. Comcast shares ended trading Tuesday at $32.94; Disney shares finished at $24.08. Philadelphia-based Comcast merged with AT&T Broadband in November 2002, and the company noted that merger in its sales pitch Wednesday. “Our management team has a proven track record of successful integration of our merger partners,” Roberts said. Comcast has more than 21 million total cable television subscribers in 35 states and the District of Columbia. In October, the company reported net income of $3.18 billion and stronger-than-expected demand for premium services including high-speed Internet access. It has not yet released its results for the most recent quarter. Link to comment Share on other sites More sharing options...
jbooma Posted February 11, 2004 Author Share Posted February 11, 2004 are you listening to Kornheiser right now, he is soooo happy Disney is about to be bought :laugh: Link to comment Share on other sites More sharing options...
Ghost of Posted February 11, 2004 Share Posted February 11, 2004 Can Comcast put the friggin NFL network on its digital cable lineup? Man, they got the golf channel, which I'm sure is cheap, but come on! Link to comment Share on other sites More sharing options...
pga Posted February 11, 2004 Share Posted February 11, 2004 Comcast baby!! He is so funny.....this is gonna suck when he goes.... Link to comment Share on other sites More sharing options...
jbooma Posted February 11, 2004 Author Share Posted February 11, 2004 Originally posted by Ghost Who Talks Can Comcast put the friggin NFL network on its digital cable lineup? Man, they got the golf channel, which I'm sure is cheap, but come on! Well you know what is going to happen they are going to charge a lot for ESPN now. Remember there was the big fight about this recently. Link to comment Share on other sites More sharing options...
jbooma Posted February 11, 2004 Author Share Posted February 11, 2004 he is coming back, screw Rome Link to comment Share on other sites More sharing options...
Troy Fakeman Posted February 11, 2004 Share Posted February 11, 2004 My friends call comcast jewcast (no offense to anybody) my last name is Rosenbaum Link to comment Share on other sites More sharing options...
pga Posted February 11, 2004 Share Posted February 11, 2004 did you notice he said they have already hired the replacement? but did not say who damnit Link to comment Share on other sites More sharing options...
Troy Fakeman Posted February 11, 2004 Share Posted February 11, 2004 wait...what is the big stink? Korny is going somewhere? Whats up booma? Link to comment Share on other sites More sharing options...
jbooma Posted February 11, 2004 Author Share Posted February 11, 2004 Originally posted by Troy Fakeman wait...what is the big stink? Korny is going somewhere? Whats up booma? he is quitting his radio show, but looks like he will be back in the dc area only starting next year Link to comment Share on other sites More sharing options...
jbooma Posted February 11, 2004 Author Share Posted February 11, 2004 Originally posted by pga did you notice he said they have already hired the replacement? but did not say who damnit either Rome or Jay or they guy from Miami i pray it is Norman Chad Link to comment Share on other sites More sharing options...
Troy Fakeman Posted February 11, 2004 Share Posted February 11, 2004 Nice, Korny is the man....he actually backs the Skins.....unlilke that no talent ass clown Wilbon....who just loves to push racist issues like it is his job. (just ranting - I like Wilbon) PTI owns. Link to comment Share on other sites More sharing options...
jbooma Posted February 11, 2004 Author Share Posted February 11, 2004 they just raised their digital cable $5 :doh: Link to comment Share on other sites More sharing options...
Troy Fakeman Posted February 11, 2004 Share Posted February 11, 2004 Adelphia > Comcast at least where I live. Booma? Did you see the thing on ESPN yesterday about Ramsey and how he could go to San Diego for the no. 1 pick overall...and how we would just take Manning? What do you think? Link to comment Share on other sites More sharing options...
terpfan44 Posted February 11, 2004 Share Posted February 11, 2004 and for what it is worth Comcast just diluted their programing on the Eastern Shore...by only broadcasting 84 Oriole games and leaving the rest for Ch. 20...which they don't offer here... Link to comment Share on other sites More sharing options...
OldButDeadly Posted February 11, 2004 Share Posted February 11, 2004 Originally posted by Troy Fakeman My friends call comcast jewcast (no offense to anybody) my last name is Rosenbaum Never mind the Jewish remarks...I can't believe you still hatin on Troy Aikman....:laugh: :laugh: You know he is retired...right??? :laugh: Kev Link to comment Share on other sites More sharing options...
BCS:BraveCaringSoul Posted February 11, 2004 Share Posted February 11, 2004 We call them Scumcast Cable-- a name they got they old fashioned way, they EARNED it. Link to comment Share on other sites More sharing options...
Troy Fakeman Posted February 11, 2004 Share Posted February 11, 2004 Originally posted by Troy Fakeman Adelphia > Comcast at least where I live. Booma? Did you see the thing on ESPN yesterday about Ramsey and how he could go to San Diego for the no. 1 pick overall...and how we would just take Manning? What do you think? Link to comment Share on other sites More sharing options...
Ghost of Posted February 11, 2004 Share Posted February 11, 2004 Troy Why? that would be so lame. We'd trade away our young franchise QB who's shown actual ability to play and then draft an unknown quantity at QB? WHY? That's like trading Chris Samuels for a high 1st and taking an OT with that. It only makes sense if someone is real old, real expensive, etc. Link to comment Share on other sites More sharing options...
jbooma Posted February 11, 2004 Author Share Posted February 11, 2004 Originally posted by Troy Fakeman Adelphia > Comcast at least where I live. Booma? Did you see the thing on ESPN yesterday about Ramsey and how he could go to San Diego for the no. 1 pick overall...and how we would just take Manning? What do you think? Personally I would want Fitzgerald before Manning. However getting the #1 pick for Ramsey I think a lot of us would have to at least think about it. Imagine how many picks we could get then trading that away. Link to comment Share on other sites More sharing options...
pga Posted February 11, 2004 Share Posted February 11, 2004 Hey boom, is that your guesses or have you seen that somewhere? I hate Rome, that would BLOW Link to comment Share on other sites More sharing options...
Troy Fakeman Posted February 11, 2004 Share Posted February 11, 2004 Originally posted by Ghost Who Talks Troy Why? that would be so lame. We'd trade away our young franchise QB who's shown actual ability to play and then draft an unknown quantity at QB? WHY? That's like trading Chris Samuels for a high 1st and taking an OT with that. It only makes sense if someone is real old, real expensive, etc. Dude....dont act like I am the GM...I am just 'reporting' what BSPN was 'reporting' Link to comment Share on other sites More sharing options...
NavyDave Posted February 11, 2004 Share Posted February 11, 2004 Holy shhhhhhhhhh Comcast purchases Disney/ESPN and related properties and korny heiser is doing backflips on the radio while Mrs ND buy family oriented stock back in the day approach makes for an interesting dinner conversation tonite Link to comment Share on other sites More sharing options...
@DCGoldPants Posted February 11, 2004 Share Posted February 11, 2004 Its not a done deal, is it? Link to comment Share on other sites More sharing options...
Troy Fakeman Posted February 11, 2004 Share Posted February 11, 2004 gg Link to comment Share on other sites More sharing options...
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