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Comcast Wants to Buy Disney, ‘Restore the Disney Brand’

Comcast Wants to Buy Disney, 'Restore the Disney Brand'

$54 billion is the offer on the table from Comcast Corp. to buy Walt Disney Co., parent of the ABC broadcast network, the Disney film studio, ESPN and other media assets.
CNN/Money reported that the surprise, unsolicited offer would create one of the world’s biggest entertainment companies.
FCC Chairman Michael Powell told lawmakers Comcast’s effort to take over Disney would receive high scrutiny at the commission.
Comcast valued its offer at about $66 billion, including the assumption of debt. Disney shareholders would own 42 percent of the combined company under Comcast’s proposal, according to CNN/Money.
“This is a combination that we believe would restore the Disney brand,” Comcast President and CEO Brian Roberts said during a conference call, CNN reported. Disney Chairman Michael Eisner has been under pressure from some unhappy ex-directors including Roy Disney.
Disney said in a statement that it “will carefully evaluate” the offer.
Comcast is the nation’s largest cable firm. It recently paid $29 billion for the cable assets of AT&T.