Comcast aims to snatch Disney with $66bn bid

CujoSR · Post by **CujoSR** » Wed Feb 11, 2004 7:36 pm

Comcast, the giant US cable operator, launched a surprise $66bn bid for Walt Disney on Wednesday in an audacious and opportunistic attempt to grab the iconic media group and create a new force in television and film distribution.

The offer represents the most serious challenge to Michael Eisner, Disney's long-serving chairman and chief executive, whose stewardship of the Magic Kingdom was already under attack after years of poor results.
(read more at FT.com)

Boy1nterrupted · Post by **Boy1nterrupted** » Wed Feb 11, 2004 7:37 pm

This could be the start of something big...

IndyBob · Post by **IndyBob** » Wed Feb 11, 2004 7:54 pm

Lets hope so, in a good way :?:

Mansion_Boi · Post by **Mansion_Boi** » Thu Feb 12, 2004 5:27 am

Actually this could be very bad, you see if Comcast succeds in it's hostile takeover attempt they would own the company, that is everything. If they wish they could essentially sell of the theme park division as well as other divisions that it didn't want. So essentially Disneyland could end up being owned by Six Flags and California Adventure by the same people who own Knott's. I bet you this, the management team is not sitting pretty, their jobs are at stake, The new owners could easily come in one day and decide that the managers we have suck (something that we could have told them)(ok not all mangers suck and you guys know who you are) anyway they would be the first to get the boot or demoted. Imagine what would happen if a new company came in and said ok well you are all getting paid more that every other theme park so you are all going to take a pay cut or leave and what about stuff like maingate passes or our a and b discounts. Those could go out the door as well. Even worse case scenario could be that Comcast doesn't want the themeparks they try to sell but no one wants it and so instead it just closes the parks. While this could be a good thing i seriously doubt it. If you wanted to prevent a hostile take over and preserve the Disney legacy I would say now is the time to buy Disney stock and NOT sell it. Hopefully Roy Disney can come in and take over and if he can then we would be in good hands, if were lucky maybe we can give eisner the boot and Steve Jobs (the guy from Pixar) the new job as CEO

Wizard69 · Post by **Wizard69** » Thu Feb 12, 2004 11:28 am

Hmm...could this be the doings of Roy and Stanley behind the scenes or just an Ex-Disney exec trying to make a quick buck in a critical time?

Comcast supposedly said they would keep the theme parks because that is a core asset and trademark of Disney and people specifically go to see Mickey Mouse and all his friends.

I agree that it might be bad for employees if Comcast took over.

tabacco · Post by **tabacco** » Thu Feb 12, 2004 1:29 pm

I'm 99.99% certain this wasn't a move by Roy. I think the last thing he wants (even moreso than for Eisner to stay) is for the company to be swallowed up in a takeover.

I also worry about Comcast's statements saying that the characters are the parks' only real value. If they see it that way, the rest of the park (attractions, theming, etc.) could be allowed to fall into disrepair, and Disneyland could end up just a glorified Six Flags with Mickey walking around.

Zazu · Post by **Zazu** » Thu Feb 12, 2004 2:38 pm

Then again, this could be very good. Steve Burke is a Comcast Executive Vice President. Remember him? Used to be president of EuroDisney. At least he knows how to run a theme park.

Mansion_Boi · Post by **Mansion_Boi** » Fri Feb 13, 2004 6:08 am

Well it looks like PIXAR might jump in the band wagon and place a bid for Disney themselves. According to some articles i read PIXAR is going through their investors to see how much money they can get there hands on and place a bid on Disney. Personally I would rather have PIXAR take over. They wouldn't get rid of the parks. They would use them to their fullest advantage, it could be the beginning of a new and exciting era in Disney if PIXAR were to take over

Zazu · Post by **Zazu** » Fri Feb 13, 2004 12:33 pm

Mansion_Boi wrote:Well it looks like PIXAR might jump in the band wagon and place a bid for Disney themselves. According to some articles i read PIXAR is going through their investors to see how much money they can get there hands on and place a bid on Disney.

Outstanding! I'll drop Steve a note that I'm willing to mortgage my house and loan him what I can to help out.

tabacco · Post by **tabacco** » Fri Feb 13, 2004 1:25 pm

Actually, I sort of think that Steve Jobs would be a good CEO for Disney. He may be kind of a jerk, but man is he good. Just look at what he did with Apple (the second time, mainly) and with Pixar.

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