Comcast aims to snatch Disney with $66bn bid

[CujoSR]

Comcast, the giant US cable operator, launched a surprise $66bn bid for Walt Disney on Wednesday in an audacious and opportunistic attempt to grab the iconic media group and create a new force in television and film distribution.

The offer represents the most serious challenge to Michael Eisner, Disney's long-serving chairman and chief executive, whose stewardship of the Magic Kingdom was already under attack after years of poor results.
(read more at FT.com) (http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1075982435107&p=1012571727088)

[Boy1nterrupted]

This could be the start of something big...

[IndyBob]

Lets hope so, in a good way :?:

[Mansion_Boi]

Actually this could be very bad, you see if Comcast succeds in it's hostile takeover attempt they would own the company, that is everything. If they wish they could essentially sell of the theme park division as well as other divisions that it didn't want. So essentially Disneyland could end up being owned by Six Flags and California Adventure by the same people who own Knott's. I bet you this, the management team is not sitting pretty, their jobs are at stake, The new owners could easily come in one day and decide that the managers we have suck (something that we could have told them)(ok not all mangers suck and you guys know who you are) anyway they would be the first to get the boot or demoted. Imagine what would happen if a new company came in and said ok well you are all getting paid more that every other theme park so you are all going to take a pay cut or leave and what about stuff like maingate passes or our a and b discounts. Those could go out the door as well. Even worse case scenario could be that Comcast doesn't want the themeparks they try to sell but no one wants it and so instead it just closes the parks. While this could be a good thing i seriously doubt it. If you wanted to prevent a hostile take over and preserve the Disney legacy I would say now is the time to buy Disney stock and NOT sell it. Hopefully Roy Disney can come in and take over and if he can then we would be in good hands, if were lucky maybe we can give eisner the boot and Steve Jobs (the guy from Pixar) the new job as CEO

[Wizard69]

Hmm...could this be the doings of Roy and Stanley behind the scenes or just an Ex-Disney exec trying to make a quick buck in a critical time?

Comcast supposedly said they would keep the theme parks because that is a core asset and trademark of Disney and people specifically go to see Mickey Mouse and all his friends.

I agree that it might be bad for employees if Comcast took over.

[tabacco]

I'm 99.99% certain this wasn't a move by Roy. I think the last thing he wants (even moreso than for Eisner to stay) is for the company to be swallowed up in a takeover.

I also worry about Comcast's statements saying that the characters are the parks' only real value. If they see it that way, the rest of the park (attractions, theming, etc.) could be allowed to fall into disrepair, and Disneyland could end up just a glorified Six Flags with Mickey walking around.

[Zazu]

Then again, this could be very good. Steve Burke is a Comcast Executive Vice President. Remember him? Used to be president of EuroDisney. At least he knows how to run a theme park.

[Mansion_Boi]

Well it looks like PIXAR might jump in the band wagon and place a bid for Disney themselves. According to some articles i read PIXAR is going through their investors to see how much money they can get there hands on and place a bid on Disney. Personally I would rather have PIXAR take over. They wouldn't get rid of the parks. They would use them to their fullest advantage, it could be the beginning of a new and exciting era in Disney if PIXAR were to take over

[Zazu]

Well it looks like PIXAR might jump in the band wagon and place a bid for Disney themselves. According to some articles i read PIXAR is going through their investors to see how much money they can get there hands on and place a bid on Disney.

Outstanding! I'll drop Steve a note that I'm willing to mortgage my house and loan him what I can to help out.

[tabacco]

Actually, I sort of think that Steve Jobs would be a good CEO for Disney. He may be kind of a jerk, but man is he good. Just look at what he did with Apple (the second time, mainly) and with Pixar.

[BirdMom]

I was a rookie employee in 84 when all the greenmail crud was going on with Staul Steinberg and I can't remember the other guy... anyway, there were the same kinds of rumors going around that whoever bought Disney was going to sell off all the assets, that the parks would turn into junk (which kind of ended up coming true under Eisner's stewardship), etc, etc... We were wondering if we were going to have jobs in a year. The thing is that you can't believe the worst of the rumors - they're just stupid. If Comcast or Pixar buys the company, either way might be good. Personally, I think that Disney should divest itself of ABC/Capital Cities. I don't think that any studio should be allowed to own a network even though the government has loosened regulations (ever hear of the Sherman Anti-Trust Act, you Washington weenies???). The parks are too valuable an asset for any buyer to want to divest itself of...the Eisner/Wells regime has pretty much exploited them as merchandise/marketing opportunities for anything and everything that the studio produces. The cruise line business can go - the travel industry is too volitile in this day of Orange alerts, and it really isn't part of the company's core mission. The studio and theme park should be separate but equal portions of the company. Attractions don't necesarrily have to tie in with filmed product. The creatives at the studio should be concentrating on writing and producing the best possible stories that are involving and innovative, and they don't have to be computer generated. If there is quality product out there, the audience will find it. I hope that Disney is sold to someone who really cares about the name and history, who will respect the past without being hindered by it and find a way to make the business productive without taking away from the front line employess both in the parks and at the studio.