Comcast Proposes Merger With Disney

Comcast, the nation's largest cable television operator, has offered to buy the Walt Disney Company, in a surprise bid worth $66 billion the entertainment giant's board said it would "carefully evaluate." Comcast President and CEO Brian Roberts said today the company was going public with the unsolicited offer after Disney Chairman and CEO Michael Eisner declined to enter discussions. The proposed merger includes stock valued at $54 billion and assumed debt of $11.9 billion. Disney confirmed the offer. "The Walt Disney Company Board of Directors has received and will carefully evaluate the unsolicited proposal from Comcast Corp," the company said in a statement released today. Source: ABC News.com This is just what we need, another AOL/Time Warner. Remember that Disney is also ABC, ESPN, Mirimax, Budwiser, not to mention the rest of what Disney and Comcast owns separately. If successful this will once again reshape entertainment as we know it. I personally think that Eisner should be kicked to the curb after the Pixar deal.

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