[goofyguy1958]

Just saw this article and don't know what to think:
NEW YORK (AP) - In a surprise move, cable TV giant Comcast Corp. (CMCSA) 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 to push the total value of the deal to $66 billion.

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 as Disney's chief executive.

"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.


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 would give Disney shareholders a premium of more than $5 billion, based on Tuesday closing stock prices.

Philadelphia-based Comcast merged with AT&T Broadband last November, 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.

Disney is expected to release strong first quarter earnings later Wednesday. The entertainment giant has faced an aggressive campaign to oust Eisner waged by former board members Roy E. Disney and Stanley Gold.

:!:

[Mickey Maniac]

I am a shareholder, I do not know if this is good or bad for Disney. It bumped up shares prices alot, but I am still indecided.

Rob

[Mr. Mermaid]

NOOOOOOOOOO!!! Comcast is EVIL!!!!! :madmad

[Mickey Maniac]

Originally posted by Mr. Mermaid
NOOOOOOOOOO!!! Comcast is EVIL!!!!! :madmad

I don't know about evil, but I am probably not all for the merger, I like Disney as a freestanding company.

The only advantage would be the ability for comcast to promote Disney through its cable business.

How about "Walt ComcastDisney World"

"Comcast World"

I don't like that at all :nervous

[MKCustodial]

Originally posted by Mickey Maniac
I don't know about evil, but I am probably not all for the merger, I like Disney as a freestanding company.

The only advantage would be the ability for comcast to promote Disney through its cable business.

How about "Walt ComcastDisney World"

"Comcast World"

I don't like that at all :nervous

That's what I was thinking. What would a merger mean in layman's terms? Because I keep thinking of what a tragedy it was when Warner bought Hanna-Barbera. Sure, they only had the animation part, but the prostitution of the HB characters by WB... :madmad

[Mickey Maniac]

From a Disney lover point-of-view I don't like the merger at all.

From a shareholder point-of-view I think its a great idea.

[goofyguy1958]

I have been trying to look at the positive side. I remember, in the late 1980's, walking into Comcast's little office in Northeast Philadelphia to pay my cable bill. How far they have come from then. Comcast has a vast history here in the Philadelphia area and most of it is good. They have acquired the 76's (pro basketball) and the Flyers (pro Hockey) and really have left those entities to be run by the people who are familiar with each sport and/or league -- granted they have not one any titles but they are considered successful and Comcast is not interfering in the day-to-day business of the franchises. For what it is worth, Comcast does seem to allow those in the know to run their acquisitions.

[Mickey Maniac]

Originally posted by goofyguy1958
I have been trying to look at the positive side. I remember, in the late 1980's, walking into Comcast's little office in Northeast Philadelphia to pay my cable bill. How far they have come from then. Comcast has a vast history here in the Philadelphia area and most of it is good. They have acquired the 76's (pro basketball) and the Flyers (pro Hockey) and really have left those entities to be run by the people who are familiar with each sport and/or league -- granted they have not one any titles but they are considered successful and Comcast is not interfering in the day-to-day business of the franchises. For what it is worth, Comcast does seem to allow those in the know to run their acquisitions.

I agree, I am also from PA, I am near West Chester and I have seen how the Flyers and Sixers have been left alone by Comcast. The best part of Comcast buying the Flyers/Sixers was the backing of money each club now has for free agents.

[goofyguy1958]

Mickey Maniac,

You are right around the corner form me. I am in Downingtown. It's a small world.....:D ;)

[Mickey Maniac]

Originally posted by goofyguy1958
Mickey Maniac,

You are right around the corner form me. I am in Downingtown. It's a small world.....:D ;)

Thats cool, I am actually in Concordville, Near Painters Crossing.

[ZarSu]

http://www.pressnews.net/cmcsa/
Whoa...