Yes,
It appears they acquired about 22.1 Billion in long-term debt from 21CF as of the Merger date (from the SEC). Old Disney had about $24 Billion at the time of the merger, for a total then of roughly $46 Billion. At the last earnings report, that total had fallen to $36.3 Billion. I think that total reflects a pay-down from the proceeds from SKY. So to get back to the pre-merger debt ration, we are looking at about $14 billion in debt pay down. I am not sure what the cost basis was for the Regional Sports Networks on their books, and if they have to declare a profit or can claim a loss on them. If there is a loss (I think they valued them over $20 billion in the proxy), there may be a tax benefit on the sale, which would make the number above larger.......
On the balance sheet Disney does list a Current Debt due (to be payed within a year) of $21.9 Billion. Its hard to tell what of this is operating or short-term debt and what is long term.... We can look at the next quarterly report to see what change has been made (in the $36.3 number) to tell if they are using the funds for debt reduction or other corporate purposes.....
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