Okay, this story just keeps getting more interesting. I'm enclosing a brief story line that ran in the Philladelphia Inquirer about Comcast making a bid for Disney. Mind you, this was back in December of 2003!!
The Comcast version
Executives at Comcast Corp., now the largest cable television company, are fending off Wall Street rumors that they are interested in wolfing down Walt Disney Co.
Disney owns cable sports Goliath ESPN, a subsidiary that cable executives consider anything but fun and games when it comes to haggling over programming contracts every few years.
A well-executed acquisition of Disney by Comcast could turn that balance of power on its mouse ears.
Feeding the unsourced chatter has been a seeming witch's curse that has befallen Magic Kingdom management. Last week, sole Disney-family board member Roy E. Disney flambéed the leadership style of chief executive officer Michael Eisner in a resignation letter. Board member Stanley Gold also quit in disgust, and morale among executives is low.
Roy Disney called for the breakup of Disney's wide-ranging media empire, which also includes the ABC television network, Disney's signature theme parks, and movies.
The Eisner culture is blamed for driving out Steve Burke, who was lured to Comcast in 1998 as its cable president.
Disney does present some of the same obstacles as did Vivendi Universal, which Comcast passed on buying earlier this year. Such a large acquisition would mess up Comcast's credit rating, the pieces would fit somewhat awkwardly, and it would distract employees from the still-huge job of integrating AT&T Broadband, which was purchased in 2002.
Comcast officials declined to speak specifically about the Disney speculation. But spokesman Tim Fitzpatrick noted that the company has preferred to create its own programming brands - such as the regional Comcast SportsNet channels and the African-American-oriented TV One - rather than buy existing ones.
- Akweli Parker
Also, Jim Hill is kicking himself because he had heard the same rumors and was trying to figure out why the Board had chosen Philladelphia as the location of the meeting. A city which also happens to be the headquarters of Comcast.
He flushes out some of the loose puzzle pieces that are just now coming together with the realization that this may not have been old news to Disney afterall.
You can read it all here.
http://www.jimhillmedia.com/main/index.htm
The Comcast version
Executives at Comcast Corp., now the largest cable television company, are fending off Wall Street rumors that they are interested in wolfing down Walt Disney Co.
Disney owns cable sports Goliath ESPN, a subsidiary that cable executives consider anything but fun and games when it comes to haggling over programming contracts every few years.
A well-executed acquisition of Disney by Comcast could turn that balance of power on its mouse ears.
Feeding the unsourced chatter has been a seeming witch's curse that has befallen Magic Kingdom management. Last week, sole Disney-family board member Roy E. Disney flambéed the leadership style of chief executive officer Michael Eisner in a resignation letter. Board member Stanley Gold also quit in disgust, and morale among executives is low.
Roy Disney called for the breakup of Disney's wide-ranging media empire, which also includes the ABC television network, Disney's signature theme parks, and movies.
The Eisner culture is blamed for driving out Steve Burke, who was lured to Comcast in 1998 as its cable president.
Disney does present some of the same obstacles as did Vivendi Universal, which Comcast passed on buying earlier this year. Such a large acquisition would mess up Comcast's credit rating, the pieces would fit somewhat awkwardly, and it would distract employees from the still-huge job of integrating AT&T Broadband, which was purchased in 2002.
Comcast officials declined to speak specifically about the Disney speculation. But spokesman Tim Fitzpatrick noted that the company has preferred to create its own programming brands - such as the regional Comcast SportsNet channels and the African-American-oriented TV One - rather than buy existing ones.
- Akweli Parker
Also, Jim Hill is kicking himself because he had heard the same rumors and was trying to figure out why the Board had chosen Philladelphia as the location of the meeting. A city which also happens to be the headquarters of Comcast.
He flushes out some of the loose puzzle pieces that are just now coming together with the realization that this may not have been old news to Disney afterall.
You can read it all here.
http://www.jimhillmedia.com/main/index.htm