Disney sells Angels!

[Peter Pirate]

A tentative agreement (pending baseball approval) has Disney selling the Angels to Luis Moreno, who will be the first Mexican owner, for a reported 180 Million. Disney bought the franchise from the Autry family for 150 million.

 

[Galahad]

Good news, i suspect, for all involved. Wonder why, given last year's performance, they only went for 180. At least it wasn't taken as a loss.

 

[Eeyore2U]

Early articles thought they would take a loss. It was reported the sale was for 140M. I would think in a bad economy what they got was better then fair market.

 

[Bob O]

Great news!!!! I bad pruchase to begin with is now over.
Now this should free up some money for a e ticket attraction!!!

 

[Galahad]

Now this should free up some money for a e ticket attraction!!!

Always the dreamer Bob!

 

[wdw4us2]

Great news!

Now if Disney could just get rid of the Mighty Ducks and ABC, maybe things would turn around in the parks.

 

[Bob O]

Hey we have to dream, because reality isnt that good at the current time in regards to disney!!
Of course with our luck that money will go to payoff a legal settlement from the pooh case.

 

[jlambrig]

Even though I am a WIngs fan, I am also a shareholder...so let's hope the Ducks win the Cup so they can be sold too.

 

[YoHo]

180 Million is Phenominal. A year ago Disney couldn't give the team away and they've been trying to sell for a while now.

 

[Luv2Roam]

Disney near deal to sell Angels

Burbank-based Walt Disney Co. (NYSE: DIS) is nearing a deal to sell its Anaheim Angels baseball team at a loss to Phoenix businessman Arturo Moreno, according to a Dow Jones report citing the Wall Street Journal.

According to the report, Disney is negotiating with Moreno, a 56-year-old private investor. Other potential bidders include real-estate developer Frank McCourt and members of the Nederlander family, Dow Jones reported.

The $160 million-$180 million price tag is much smaller than Disney anticipated, and despite the team's World Series win, the Angels lost about $10 million last year.

Disney's National Hockey League team, the Mighty Ducks of Anaheim, is also on the market, Dow Jones reported.

© 2003 American City Business Journals Inc.

 

[KNWVIKING]

"Even though I am a WIngs fan, ........"


It not looking too good for you guys.

 

[KNWVIKING]

"NEW YORK (AFX) - Shares of Walt Disney Co were lower in late afternoon trade, in line with general DJIA weakness, after news reports it agreed in principle to sell the Anaheim Angels - winner of the 2002 World Series - to Arizona businessman Arturo Moreno for just over 180 mln usd, dealers said."

 

[King Triton]

GREAT NEWS!!!!!!!!!!!!!

Now Disney can put that money back into the parks!!! Maybe we can get some new rides.

Next I hope they sell the Ducks and ABC. Focus on the magic!

Brilliant move Disney!!!!! I love it!!

 

[YoHo]

While I applaud the selling of the Angels, It doesn't change the fact that the have BILLIONS of dollars in debt they need to service. I wouldn't expect a dime of that money to go to the parks.

 

[KNWVIKING]

By todays ride price structure whats that get ?? A portion of one E-ride ??