Comcast offers to buy Disney
Comcast is offering to buy Disney in a deal worth a whopping $66 billion. The cable giant has issued a press release detailing its offer.
NEW YORK, February 11, 2004. Comcast Corporation (NASDAQ: CMCSA, CMCSK) today announced that it has made a proposal to The Walt Disney Company (NYSE: DIS) to merge the two companies in a tax-free transaction. The combination would create one of the world’s leading entertainment and communications companies with an unparalleled distribution platform and an extraordinary portfolio of content assets. The new company would have a presence in all of the nation’s top 25 markets, and would propel broadband forward, expanding current services and inspiring new ones.
AOL's merger with Time Warner hasn't exactly been a resounding success, but perhaps Comcast can do better with Disney.