Comcast

[alissa08]

My brother was at Comcast today, and he told me that they said that they are aquiring the Walt Disney Company, and they said it almost as if they already did. Any thoughts on this? Anyone heard anything else?

[PeoplemoverMatt]

He's probably talking about that bid Comcast made for the Disney Co. a few years ago. That was a failed attempt at a hostile takeover and no longer a consideration or an issue.

-- PMM

[Magic1]

Or...

He could have gotten the 2004 bid to buy Disney confused with the deal this November for Comcast to carry Disney's broadcast & cable programming and movies through Comcast On-Demand OR the purchase by Comcast of Disney's stake in E! Entertainment Television in the same deal.

In any case, no need to get excited... Unless you're Walmart or Target and find the On-Demand part of the deal cutting into your DVD sales materially.

[kodiak]

I know its dumb to get all worked up. but I'm a worrier. I would feel a lot better is Matt or Ezra could come up with something concrete to debunk this one. Again.. forgive my worisome nature. Just need closure. haha

[bigben78]

I've only heard about Comcast's recent deal to host Disney programming through On-Demand.....

[PeoplemoverMatt]

I knew Disney sold their share in E! Network, I wasn't aware Comcast was the buyer. Personally I thought Comcast was bought by Time Warner, but that may have just been the local cable interests, not all of Comcast.

-- PMM

[Magic1]

Originally Posted by kodiak

I know its dumb to get all worked up. but I'm a worrier. I would feel a lot better is Matt or Ezra could come up with something concrete to debunk this one. Again.. forgive my worisome nature. Just need closure. haha

Everyone has to pick the sources they trust. I too like the info posted by them (and many others on VF). My info came from Reuters and the AP and that's not too far off of concrete and definitely better than adobe or Play-Doh, so I thought I'd share. But you don't have to believe me!

Another couple of tidbits "ESPN ... costs Comcast about $2.50 per household, making it the most expensive cable network. ... The analyst estimated that Comcast will pay a 7 percent increase each year for ESPN ..." So, Disney might as well own Comcast.

[Ezra]

It sounds like sevral things got mixed up in this rumor:

• Comcast made a takeover bid a couple of years ago:

  Comcast bids for Disney CNNmoney Feb. 2004

• Comcast purchased Disney's stake in E! Networks and access to some Disney programing for Comcast's On Demand:

  Disney finalizes deal with Comcast VFnews

• ... and finally, there's a firm looking to make a hostile takover of Euro Disney (Disneyland Resort Paris):

  Swiss Firm Makes Bid For Euro Disney VFnews

Just toss all the ingredients into a blender with a grain of salt and mash frappe`

[PeoplemoverMatt]

A bid for Euro Disney? That could be the best thing for it. Just look at what an outside owner has done for TDR.

-- PMM

[Coolbeans326]

Originally Posted by PeoplemoverMatt

I knew Disney sold their share in E! Network, I wasn't aware Comcast was the buyer. Personally I thought Comcast was bought by Time Warner, but that may have just been the local cable interests, not all of Comcast.

-- PMM

Nope, they had some joint acquisition of Adelphia, and as a result traded different areas. Unfortunately, people like in my area lost what was probably the best cable company area, and was replaced by a very meh one. Anyways, here's what it says on wikipedia about it.

Time Warner and Adelphia
In April 2005 Comcast and Time Warner announced plans to buy Adelphia Cable. $17.6 billion was to be paid (partly in stock) in the deal that was finalized in the second quarter of 2006 ? after the FCC completed a seven-month investigation without raising an objection. Time Warner would become the second largest cable provider in the U.S., ranking behind Comcast. As part of the same deal, Time Warner and Comcast would also trade existing subscribers to create larger clusters of customers for each company in various geographical areas.

The changes became effective on August 1, 2006. As an example, Comcast's systems in the Dallas-Fort Worth Metroplex were traded to TWC in exchange for Time Warner's North Louisiana market, which covers Shreveport and Monroe. In return, Comcast will get the Greater Houston market, currently held by Time Warner. Also, Time Warner will remain in the Southwest Texas and San Antonio markets. The channel switching will begin on January 1, 2007. Another example of an area where Comcast gains a de-facto monopoly would be in the Pittsburgh market, where Comcast would acquire the handful of Adelphia assets in the area to go along with Comcast's already-huge market share in the area.

Also, it does not surprise me that Comcast has such an interest in Disney. After all, Former Disneyland Paris and DisneyStore executive Steve Burke left Disney for some high position in Comcast.