Disney Board Rejects Comcast Takeover Bid | AP

[travisleit01]

By GARY GENTILE, AP Business Writer

LOS ANGELES - The board of directors of The Walt Disney Company on Monday unanimously rejected a takeover bid from cable television giant Comcast Corp. as too low, but said it would consider a higher offer.

The rejection came one week after Disney chairman Michael Eisner rebuffed an offer for talks that came from Comcast chairman Brian Roberts in a brief phone call. Comcast responded Monday and said the offer still stands.

The board in a statement expressed support for current chairman and chief executive Michael Eisner and said the company's current structure and strategy are sufficient to maximize shareholder value. But it left open the possibility it would sell for a higher price.

"We are committed to creating shareholder value now and in the future and will carefully consider any legitimate proposal that would accomplish that objective," the statement read.

http://story.news.yahoo.com/news?tmpl=story&u=/ap/20040217/ap_on_bi_ge/disney_comcast&cid=509&ncid=716

[AP]

1. Notice nobody's saying "this would never survive anti-trust challenge"?

They're saying, "more money."

[DenverDem]

4. Anti Trust Challenge??!?!?

You've got to be kidding, Teddy Roosevelt.

Who's busting trusts these days? The whole point of corporate globalism is to consolidate capital in fewer and fewer hands. This deal was made in neo-liberal heaven.

[Robbien]

2. All Right!

The board noted that Comcast's offer to swap 0.78 of a share of Comcast for each Disney share undervalued the company by at least $6.6 billion based on the closing prices of both companies the day after Comcast announced its offer.

So glad that Comcast is such a cheapskate especially since the FCC is missing in action.

[fortyfeetunder]

3. Ya know why FCC is missing in in action

Still looking at Janet's boob!
:eyes:

[POed_Ex_Repub]

5. Here we go again...

Step 1) Consolodate
Step 2) Mass layoffs. Duplication in functions ya know.
Step 3) Grow the Monopoly

Rinse, Repeat

[pinniped]

6. Good news.

F Concast.