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Comcast Could Buy Disney
- Thread starter yen sid98
- Start date
Pioneer Hall
Well-Known Member
I actually might beg to differ about this one. As far out as it may seem, the way the CEO of Comcast spoke makes it sound like his speech was written by Roy. He stated how he wants to bring disney "back to its glory days" (sound familiar?). Something about all of this sounds a little fishy to me, and I wouldn't be surprised to hear Roy and Stanley's input with the comcast bid.
jrriddle
Well-Known Member
From Telecomweb.com:
Roy Disney Mum on Comcast Offer for Disney
ANAHEIM, Calif. -- Roy Disney, the dissident former director of The Walt Disney Co. [NYSE: DIS] who is now leading an independent campaign to oust Chief Executive Michael Eisner, on Wednesday (Feb. 11) remained mum on Comcast's [Nasdaq: CMCSA] bid Wednesday (Feb. 11) to acquire the company.
A spokesman for Roy Disney told TelecomWeb that the nephew of the company’s founder, Walt Disney, had no comment about the Comcast offer, a stock deal believed to be worth about $60 billion. Comcast’s bid for Disney is independent of Roy Disney's effort to oust Eisner and three other board directors, the spokesman said.
The Comcast offer surfaced as Disney reported stronger quarterly results. The bid reportedly surprised Disney executives who were preparing too meet with analysts in Orlando, Fla.
Comcast’s offer became a hostile takeover bid after Eisner refused to enter negotiations with the cable giant over a friendly merger. Eisner’s handling of the company continues to be criticized by Roy Disney and a few other board members, including Stanley Gold. Notably, Disney and Gold have raised allegations of Eisner being directly responsible for purported creative and operational failures within the company.
The Disney Company’s holdings include theme parks, movie studios, ABC, the Disney Channel and ESPN.
Roy Disney Mum on Comcast Offer for Disney
ANAHEIM, Calif. -- Roy Disney, the dissident former director of The Walt Disney Co. [NYSE: DIS] who is now leading an independent campaign to oust Chief Executive Michael Eisner, on Wednesday (Feb. 11) remained mum on Comcast's [Nasdaq: CMCSA] bid Wednesday (Feb. 11) to acquire the company.
A spokesman for Roy Disney told TelecomWeb that the nephew of the company’s founder, Walt Disney, had no comment about the Comcast offer, a stock deal believed to be worth about $60 billion. Comcast’s bid for Disney is independent of Roy Disney's effort to oust Eisner and three other board directors, the spokesman said.
The Comcast offer surfaced as Disney reported stronger quarterly results. The bid reportedly surprised Disney executives who were preparing too meet with analysts in Orlando, Fla.
Comcast’s offer became a hostile takeover bid after Eisner refused to enter negotiations with the cable giant over a friendly merger. Eisner’s handling of the company continues to be criticized by Roy Disney and a few other board members, including Stanley Gold. Notably, Disney and Gold have raised allegations of Eisner being directly responsible for purported creative and operational failures within the company.
The Disney Company’s holdings include theme parks, movie studios, ABC, the Disney Channel and ESPN.
CTXRover
Well-Known Member
I encourage everyone to head over to http://www.comcast.com/ Comcast's site where they have slides that show what they intend to do with Disney. Some of their reasons and proposals of what they would do with the company are nearly synonomous with the complaints Roy and Stanely have made about current managment. Some of the highlights include:
Empower Disney animation team to build on legacy of success
-From 1991 to 1994, Disney released Beauty and the Beast, Aladdin, The Lion King, which collectively have generated over $1.5Bn in total box office receipts
-No Disney produced animated release has come close since 1999
-Animation success drives Consumer Products and theme parks
The Disney theme parks are America's favorite vacation destiantion
-Drive attendance via advertising and cross-promotionm in all aspects of combined company
-Restore energy and creativity in attractions, hotels and concessions
There are also statements on what they will do with the studios and ABC, ESPN, Disney Channel, etc. If anything like this does go through....I still don't know what to think. Their "proposals" address many of the concerns and complaints from critics of the company, such as lack of creativity in recent theme park attractions and in animation. Comcast addresses that as some of the reasons they want TWDC. I still want Disney though to remain independent though. I just have to let this idea sink in a little more before I make my final stance....I really want to hear what Roy has to say.
Empower Disney animation team to build on legacy of success
-From 1991 to 1994, Disney released Beauty and the Beast, Aladdin, The Lion King, which collectively have generated over $1.5Bn in total box office receipts
-No Disney produced animated release has come close since 1999
-Animation success drives Consumer Products and theme parks
The Disney theme parks are America's favorite vacation destiantion
-Drive attendance via advertising and cross-promotionm in all aspects of combined company
-Restore energy and creativity in attractions, hotels and concessions
There are also statements on what they will do with the studios and ABC, ESPN, Disney Channel, etc. If anything like this does go through....I still don't know what to think. Their "proposals" address many of the concerns and complaints from critics of the company, such as lack of creativity in recent theme park attractions and in animation. Comcast addresses that as some of the reasons they want TWDC. I still want Disney though to remain independent though. I just have to let this idea sink in a little more before I make my final stance....I really want to hear what Roy has to say.
I must disagree with you though DisneyInsider, Comcast only wants to have the braging rights to say its way bigger then Turner Cable and TIme Warner.
Comcast only wants Disney's cable assets to build their broadboand and television networks. For all we know it could be a front to get Disney and then become another Vivendi.
The only thing Disney really has to gain from this is a way out of debt.
I fear not an Oracle/PeopleSoft but another Vivendi, who will mismanage the company and then sell it off piece by piece. [/B][/QUOTE] , Comcast only wants to have the braging rights to say its way bigger then Turner Cable and TIme Warner.
Comcast only wants Disney's cable assets to build their broadboand and television networks. For all we know it could be a front to get Disney and then become another Vivendi.
The only thing Disney really has to gain from this is a way out of debt.
I fear not an Oracle/PeopleSoft but another Vivendi, who will mismanage the company and then sell it off piece by piece.
Comcast only wants Disney's cable assets to build their broadboand and television networks. For all we know it could be a front to get Disney and then become another Vivendi.
The only thing Disney really has to gain from this is a way out of debt.
I fear not an Oracle/PeopleSoft but another Vivendi, who will mismanage the company and then sell it off piece by piece. [/B][/QUOTE] , Comcast only wants to have the braging rights to say its way bigger then Turner Cable and TIme Warner.
Comcast only wants Disney's cable assets to build their broadboand and television networks. For all we know it could be a front to get Disney and then become another Vivendi.
The only thing Disney really has to gain from this is a way out of debt.
I fear not an Oracle/PeopleSoft but another Vivendi, who will mismanage the company and then sell it off piece by piece.
CTXRover
Well-Known Member
That is probably the scariest thing about this. The fact that Comcast could take Disney with good intentions, drive it farther into a mess and then, like Vivendi did with Universal, sell it off in pieces.
I am a little angry that Roy isn't saying anything yet about what he thinks. We know Eisner hates the idea (thank goodness), but we also know the rest of the board is now going to "consider it". Roy has to know that his good intentions are now being quoted in nearly every paper as being a possible cause that ComCast now knows and feels that Disney is susceptible enough for a takeover at this time. If Eisner and the board had done their jobs in the first place, this takeover attempt wouldn't even be considered, so they are the real problem. Unfortunately, it seems by Roy trying to innocently provoke change he may have opened the door for Comcast to realize its time for their 'takeover' attempt. Roy needs to take a stance. As someone else said, some of Comcast's statements of what they would do with Disney in light of bringing it back to its glory days and re-viving the creativity in animation and theme parks and helping bring Pixar back to Disney are just too eerily close to what we and Roy have all been saying.
Disneys America
Member
I saw this over on CNN Money:
jrriddle
Well-Known Member
Hill mentions this as well as part of a big conspiracy plot envolving Eisner & Comcast
http://www.jimhillmedia.com/main/index.htm
Pioneer Hall
Well-Known Member
, Comcast only wants to have the braging rights to say its way bigger then Turner Cable and TIme Warner.
Comcast only wants Disney's cable assets to build their broadboand and television networks. For all we know it could be a front to get Disney and then become another Vivendi.
The only thing Disney really has to gain from this is a way out of debt.
I fear not an Oracle/PeopleSoft but another Vivendi, who will mismanage the company and then sell it off piece by piece. [/B][/QUOTE]
Comcast is already the largest cable distributer in America. They already have those bragging rights.
SamatBCV
Member
I agree with Blizz. None of us wants Disney to be the next Vivendi. Comcast is a media company, not an ENTERTAINMENT company. There is a lot more to the Disney company than cable channels. I wouldn't mind if Disney unloaded some of its channels and the sports teams, but it is entirely different for another company to be in charge of everything.
I don't care what Comcast says they intend to do with Disney if they take over. Those companies make promises all the time and rarely follow through on them.
As an aside, I think a good solution to the Eisner problem is what I found in an article at Motley Fool that suggests Steve Jobs could come in as CEO for Disney. That would reforge the relationship with Pixar and put a good manager at Disney's helm. (I'm don't like Macs, but Jobs is a good CEO.)
Finally, I think both Disney and Pixar lost out in their inability to come to terms. Pixar will have greater risks and will take a bigger hit on marketing without Disney behind them. We already know what Disney is losing. But if you read the terms of the deal, Pixar gave Disney a pretty tough pill to swallow by giving up its existing copyright on all previous Pixar/Disney films.
I don't care what Comcast says they intend to do with Disney if they take over. Those companies make promises all the time and rarely follow through on them.
As an aside, I think a good solution to the Eisner problem is what I found in an article at Motley Fool that suggests Steve Jobs could come in as CEO for Disney. That would reforge the relationship with Pixar and put a good manager at Disney's helm. (I'm don't like Macs, but Jobs is a good CEO.)
Finally, I think both Disney and Pixar lost out in their inability to come to terms. Pixar will have greater risks and will take a bigger hit on marketing without Disney behind them. We already know what Disney is losing. But if you read the terms of the deal, Pixar gave Disney a pretty tough pill to swallow by giving up its existing copyright on all previous Pixar/Disney films.
SirGoofy
Member
I have to agree about the NHL. I wouldn't put it by them to get in the way. I could run that league better than Gary Bettman. It would be cool if the Flyers and Disney would come together...
Back on track. If they say they'll bring the animation and parks to their past glory I'm all for this deal. But thats a big if.
P.S. Dwarful what team are you a fan of? I'm the biggest Flyers fan ever. Ever.
Back on track. If they say they'll bring the animation and parks to their past glory I'm all for this deal. But thats a big if.
P.S. Dwarful what team are you a fan of? I'm the biggest Flyers fan ever. Ever.
andromedaslove
New Member
Just from CNN.com
From CNN.com:
Gold said it was "much too early" to comment on whether he and Roy Disney favored a Comcast deal. But on a conference call, he called it a "serious offer," adding he hopes the Disney board "would begin to handle this with the best interest of shareholders, and not the best interest of Michael Eisner, in mind."
"Although Gold and Disney would not comment about the specifics of Comcast's offer, Gold gave a glowing endorsement of Stephen Burke, the Comcast Cable president who worked for Disney for 12 years before joining Comcast.
"Stephen Burke is a very able executive. When he left, the company began to fall on bad times," Gold said. "Steve is the kind of guy that Disney ought to be populating all its divisions with."
From CNN.com:
Gold said it was "much too early" to comment on whether he and Roy Disney favored a Comcast deal. But on a conference call, he called it a "serious offer," adding he hopes the Disney board "would begin to handle this with the best interest of shareholders, and not the best interest of Michael Eisner, in mind."
"Although Gold and Disney would not comment about the specifics of Comcast's offer, Gold gave a glowing endorsement of Stephen Burke, the Comcast Cable president who worked for Disney for 12 years before joining Comcast.
"Stephen Burke is a very able executive. When he left, the company began to fall on bad times," Gold said. "Steve is the kind of guy that Disney ought to be populating all its divisions with."
SamatBCV
Member
Re: Just from CNN.com
Ahh a nice recommendation for Burke. However, when Eisner first came on board, he was good for Disney. My point is that even if Burke wants to do right by Disney, he is an individual. He will not be CEO of Comcast forever and then Disney would be at the mercy of the next CEO who may not be as favorable to Disney. At least if Disney is independent, there is more control over the CEO (i.e., they can pick a CEO that intends to do right by the DISNEY company - not by Comcast).
Ahh a nice recommendation for Burke. However, when Eisner first came on board, he was good for Disney. My point is that even if Burke wants to do right by Disney, he is an individual. He will not be CEO of Comcast forever and then Disney would be at the mercy of the next CEO who may not be as favorable to Disney. At least if Disney is independent, there is more control over the CEO (i.e., they can pick a CEO that intends to do right by the DISNEY company - not by Comcast).
EmeraldDolphin
New Member
http://news.yahoo.com/news?tmpl=story2&u=/ap/20040211/ap_on_bi_ge/comcast_disney
sorry if this is a dup...
sorry if this is a dup...
BenS
Member
If you need me I'll be up in the angry dome!
Wait I don't have one of those, oh well.
WHAT THE ^%&$ COMCAST THINK IT'S DOING!? IF THIS GOES THROUGH ILL [this is a family website, so I'll remove this part]
Anywho, I really hope this doesn't happen. Disney is, always was, and always should remain its own company.
If this does happen I have a solution to the world's power problems, hook up a turbine to Walt's body, he's rolling in his grave enough already to power half of Cali.
Wait I don't have one of those, oh well.
WHAT THE ^%&$ COMCAST THINK IT'S DOING!? IF THIS GOES THROUGH ILL [this is a family website, so I'll remove this part]
Anywho, I really hope this doesn't happen. Disney is, always was, and always should remain its own company.
If this does happen I have a solution to the world's power problems, hook up a turbine to Walt's body, he's rolling in his grave enough already to power half of Cali.
djmatthews
Well-Known Member
Over in the UK, it is making the headlines on all our news, this is HUGE! I have just read Jim Hills article - very interesting, who is that guy by the way, and why does he seem to know so much?
I have to agree with many people - this deal is fishy and I would say not a suprise for the big guys at Disney! If what Comcast say is true, it could be what Disney needs. I would assume Parks and Resorts, WDI, Animantion and Film would all remain seperate operations, the changes are more likely to be seen in TV, cable and Internet operations.
I'm sure there will be asset stripping of some kind, DLP would either be high on the list or receive some much needed investment and promotion which I doubt Comcast can offer giving whats DLPs market is.
A very interesting time is coming up guys!
I have to agree with many people - this deal is fishy and I would say not a suprise for the big guys at Disney! If what Comcast say is true, it could be what Disney needs. I would assume Parks and Resorts, WDI, Animantion and Film would all remain seperate operations, the changes are more likely to be seen in TV, cable and Internet operations.
I'm sure there will be asset stripping of some kind, DLP would either be high on the list or receive some much needed investment and promotion which I doubt Comcast can offer giving whats DLPs market is.
A very interesting time is coming up guys!
