Comcast proposing $66 billion deal for Disney. 6.7% premium over current stock price.

just announced that Comcast wants to buy Disney for 66Bil.

it is apparently a hostile takeover.

In an open letter to Michael Eisner, the president and chief executive officer of Comcast Brian Roberts said:


"I am writing following our conversation earlier this week in which I proposed
that we enter into discussions to merge Disney and Comcast to create a premier
entertainment and communications company. It is unfortunate that you are not
willing to do so. Given this, the only way for us to proceed is to make a
public proposal directly to you and your Board."

don't think I like this. while I don't like eisner, I don't like the idea of the "comcast walt disney company"

Comcast is my current cable company and ISP.

From my experience, I would say: Eeeew to Comcast.

Their recent commerical about not getting the complete HD experience unless you have Comcast is full of IT! They don't offer all the stations being broadcast in HD yet show all these people watching a tv with holes in it because they aren't getting all the HD channels they could be. Well guess what comcast, even with you they aren't getting all the stations.

Yes, it irks me to no end every time they show that ad.

So, based on that, I vote No to Comcast.

Hostile takeover though... whoa!

Not sure if anybody has heard any of this, but check this article out:article (http://apnews1.iwon.com//article/20040211/D80L50RG0.html?PG=home&SEC=news)

Just read on the foxnews website that Comcast is trying for a hostile takeover of Disney to oust Eisner...Any comments? Good time to buy Comcast Stock huh?

Sorry...I forgot the quote...
NEW YORK — In a stunning move, cable TV giant Comcast Corp. (CMCSA) proposed early Wednesday to buy Walt Disney Co., (DIS) the iconic entertainment powerhouse, for stock valued at about $54 billion. It said Disney chief Michael Eisner had rebuffed its request for talks

Taken directly from www.foxnews.com

Saw this on the internet. Sounds intriguing:

article (http://apnews1.iwon.com//article/20040211/D80L50RG0.html?PG=home&SEC=news)

Comcast is literally buying Disney stock as we speak. The share have gone up over $3.00 in just a few hours.

I don't like Eisner but this hostile takeover by Comcast has me on the brink of tears. It feels like they've just killed the dream, the magic and Walt (metaphorically).

:crying:

Does this mean that Eisner is out? Will the theme parks get the attention they need? Hopefully this is great news and not bad news. Frankly it could go either way, but it is too early to tell.

I have to disagree with Just a girl on comcast. Our HD is Great. I am inpressed with the picture in HD everytime I see it. And i do know that they are adding more HD channels in the near future! Second, how can you beat the speed of there internet service? And ours tripled in speed just this week!! Very Very fast! what service plan do you have, because we have about 200 channels.

Every part of Comcast has been great, and they might be a good contender to merge with Disney! It might be better than where Disney is headed now.

HP? No. It's COMCAST (the media giant) not Compaq (the computer giant).;)

HP or Comcast? I haven't seen anything about HP yet

Sorry but I wish it was HP. They would be a great company to own disney.

Originally posted by Not Afraid
HP? No. It's COMCAST (the media giant) not Compaq (the computer giant).;)

Wouldn't that mean the fireworks have taken over Disney completely? Bizarre circle there. HA!

I wonder how the 2 wonder boys, Roy and Stan, will react to this? I'm sure that if they are positive about this, they will take credit. Though they may take credit and pull an Alec Guiness in Bridge on the River Kwai: "Oh my god....what did I do?"

Originally posted by Disneyfanatic
I have to disagree with Just a girl on comcast. Our HD is Great. I am inpressed with the picture in HD everytime I see it. And i do know that they are adding more HD channels in the near future! Second, how can you beat the speed of there internet service? And ours tripled in speed just this week!! Very Very fast! what service plan do you have, because we have about 200 channels.



I'm not saying I don't like HD in general. You're right - the pic is great. And yes - our cable internet is fast. But then so was our cable internet by Adelphia. So, I don't think it's the speed of "their" internet service - but with cable internet in general.

My beef with comcast is with the HD channels we get:

ESPN - although the aspect ratio is totally screwed up and they can't/won't fix it. It's like watching regular TV that they are morphed into a wide screen edition. Because it's HD, you can't change the aspect ratio on the TV to wide, or full zoom or any of that. I don't watch ESPN though - so I don't really care. It only irks me because it should be right, it isn't, and Comcast won't acknowledge there is even a problem. :rolleyes:

CBS (2)
ABC (7)
NBC (4)
KTTV (11)
KCET (PBS - but not the same listing as regular KCET)

No Channel 5, Discovery, HDnet, or HD movies available - such as one would get with Direct TV. however, with Direct TV, one must buy a receiver that runs $400-$500.

(There are options to get showtime and HBO as well - but we don't get those movie stations in our package.)

I just don't want to hear them saying you get it all with comcast, when you don't get it all. Although we do get more now then we did when we first signed up and got only 3 stations...it's still not "the whole picture" as they are so fond of saying.

Originally posted by davebert4
HP or Comcast? I haven't seen anything about HP yet

The origional thread title I was responding to replaced Comcast with HP. Hence my corrections.

It's hard to follow now that threads have been combined.

I read the letter to Eisner and something struck me as odd:

"Given the landscape that has evolved in our industry over the past few years, the creation of integrated content and distribution companies is essential to increasing the level of competition. "

How do giant conglomerates that control everything lead to competition? How does Walmart's business practices increase the level of competition? Wiping out competition is more like it.

The fact I care at all, is disconcerning.

Originally posted by MattO
I wonder how the 2 wonder boys, Roy and Stan, will react to this? I'm sure that if they are positive about this, they will take credit. Though they may take credit and pull an Alec Guiness in Bridge on the River Kwai: "Oh my god....what did I do?"

Yep -- they showed that Disney was weak -- however, more in likely, Comcast would bring in someone new to run Disney. I think a lot of people are waiting to hear from Roy and Stan on this. If its positive, expect the bid to win and Roy and Stan will be on the Comcast Board of Directors.

Look at the termsheet Darkbeer posted in announcements. Look where the theme parks are on the list of coordinated assets. The very bottom. And how are they described: amusement park assets. Comcast wants to control costs at ESPN and leverage the film library. That's all they're interested in. This won't go through, but in a theoretical sense - bad for the parks. About the only thing you can say about cable companies that's positive from a parks perspective, is that they don't mind putting up big money for infrastructure.

Originally posted by cryan71
Yep -- they showed that Disney was weak -- however, more in likely, Comcast would bring in someone new to run Disney. I think a lot of people are waiting to hear from Roy and Stan on this. If its positive, expect the bid to win and Roy and Stan will be on the Comcast Board of Directors.

There has been talk of Comcast bidding for Disney for at least a year now. Perhaps they waited until Disney was off the board to make this bid? It could be construed that he would be a very vocal opponent of an acquisition...as his history with the company has shown.

Should be interesting to see what Roy has to say. Either way...he makes tons of cash.

Originally posted by genenpet
Look at the termsheet Darkbeer posted in announcements. Look where the theme parks are on the list of coordinated assets. The very bottom. And how are they described: amusement park assets. Comcast wants to control costs at ESPN and leverage the film library. That's all they're interested in. This won't go through, but in a theoretical sense - bad for the parks. About the only thing you can say about cable companies that's positive from a parks perspective, is that they don't mind putting up big money for infrastructure.

Look at all recent aquisitions of entertainment companies. For us fans, Comcast taking control would not be the best thing. Ask the folks at Warner Brothers about AOL's takeover.

This better not happen, I would rather have Eisner than Comcast!
http://apnews.myway.com/article/20040211/D80L4OM00.html

Didn't Disney stave off a hostile take over bid back in the early 80's before Eisner was brought in?

Can't this be shot down by the shareholders or something?

I agree that Eisner would be better than Comcast. :crying:

I looked at the powerpoint slides that comcast put together about the "merger" (ie. hostile takeover.)

They talk mainly about the cable networks, and the themeparks are all but ignored (the logos are present but off to the side.)

Disney should just sell their cable networks and concentrate in what they do best, movies and themeparks.