Darkbeer
09-26-2002, 04:49 AM
Disney Hires Bank for Attempted Sale (http://www.latimes.com/sports/la-sp-angrep26sep26004439.story) - LA Times, 9/26/02
QuikQuote: ARLINGTON, Texas -- In the most significant expression of its determination to sell its two money-losing sports teams, the Walt Disney Co. has retained a New York investment bank to find buyers for the Angels and Mighty Ducks, according to two sources familiar with the sales process.
Even while engaging in on-again, off-again talks to sell the teams over the past three years, Disney declined to hire an investment bank, hoping that qualified buyers would come forward after reading or hearing that the teams were on the market. The decision to retain Lehman Brothers reflects in part an admission that Disney has been unable to attract buyers it deems qualified and in part a corporate urgency to sell non-essential assets at a time Disney stock has plunged to eight-year lows.
QuikQuote: ARLINGTON, Texas -- In the most significant expression of its determination to sell its two money-losing sports teams, the Walt Disney Co. has retained a New York investment bank to find buyers for the Angels and Mighty Ducks, according to two sources familiar with the sales process.
Even while engaging in on-again, off-again talks to sell the teams over the past three years, Disney declined to hire an investment bank, hoping that qualified buyers would come forward after reading or hearing that the teams were on the market. The decision to retain Lehman Brothers reflects in part an admission that Disney has been unable to attract buyers it deems qualified and in part a corporate urgency to sell non-essential assets at a time Disney stock has plunged to eight-year lows.