Just saw this article. To me, its looking as if Comcast will not succeed. From the comments in the following article, Brian Roberts doesn't seem so optimistic about the prospects of taking over Disney.
Either Comcast seriously miscalculated, or they have something else up their sleeve. Hopefully they will go AWAY soon.
Dow Jones Business News
Comcast CEO Stands Behind Original Disney Offer
Monday March 8, 2:29 pm ET
By Ellen Sheng, Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Comcast Corp. (NasdaqNM:CMCSK - News; CMCSA, CMCSK) reiterated Monday that it won't raise its bid for Walt Disney Co. (NYSE
IS - News) .
"It's not realistic that we can keep going and bid against ourselves," Chief Executive Brian Roberts said at a Bear Stearns conference in Florida.
Roberts emphasized that Comcast's original bid offered at least a 10% premium over the average stock price in the last three years.
The deal would be a good opportunity for content and distribution to work together, but "you can't pay for that opportunity at the expense of your own wonderful company," he said.
The chief executive restated that the bid isn't something the company "needs" to do and deflated speculation that the bid underlies fears that cable is poised for moderate growth in the future.
Comcast is "not doing this to say cable is not good for the future...I'm more bullish than I was 18 months ago," Roberts said, pointing to the company's swifter-than-expected integration of AT&T Broadband.
"If it doesn't happen, life goes on," Roberts said.
Comcast released a statement last week calling for Disney's independent board members to meet with Comcast executives to discuss a merger. Comcast's bid offers to exchange one share of Disney for 0.78 of a share of Comcast.
Either Comcast seriously miscalculated, or they have something else up their sleeve. Hopefully they will go AWAY soon.
Dow Jones Business News
Comcast CEO Stands Behind Original Disney Offer
Monday March 8, 2:29 pm ET
By Ellen Sheng, Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Comcast Corp. (NasdaqNM:CMCSK - News; CMCSA, CMCSK) reiterated Monday that it won't raise its bid for Walt Disney Co. (NYSE
IS - News) ."It's not realistic that we can keep going and bid against ourselves," Chief Executive Brian Roberts said at a Bear Stearns conference in Florida.
Roberts emphasized that Comcast's original bid offered at least a 10% premium over the average stock price in the last three years.
The deal would be a good opportunity for content and distribution to work together, but "you can't pay for that opportunity at the expense of your own wonderful company," he said.
The chief executive restated that the bid isn't something the company "needs" to do and deflated speculation that the bid underlies fears that cable is poised for moderate growth in the future.
Comcast is "not doing this to say cable is not good for the future...I'm more bullish than I was 18 months ago," Roberts said, pointing to the company's swifter-than-expected integration of AT&T Broadband.
"If it doesn't happen, life goes on," Roberts said.
Comcast released a statement last week calling for Disney's independent board members to meet with Comcast executives to discuss a merger. Comcast's bid offers to exchange one share of Disney for 0.78 of a share of Comcast.
