Comcast's Hostile Takeover Bid...

[xnascar2x]

I'm sure everyone can't wait to sail on the Comcast Magic and the Comcast Wonder.

 

[DMS_cruisers04]

wouldn't be sailing too far from the Cape. I mean, how long of a cable would you need to still get programming onboard.

Seriously though, we know that Comcast isn't looking at this to change those sorts of trivial things. Placing their name on the ships and parks isn't going to happen. If corps did this with ever merger we'd all be watching DBC.

Michael better start searching the bottom of that hat for his rabbit.

 

[IrishCowboy]

Sad? Not me...DIS stock is up 14-15%. Let's face it, the stock has taken a beating over the past few years and the stockholder perks aren't what they used to be.

I believe that if this deal does go thru, Comcast will keep the Disney name and profitable divisions. They would be more likely to sell off the the less profitable units or those that have been losing money.

On the bright side, Comcast will have large cash flow, and that means a better chance of a 3rd ship! OK, maybe I'm dreaming here, but you have to look on the positive side!

 

[Griggle]

I dunno - Comcast's numbers don't look all that good. A lot of debt there. Seems to me they're an upside down Tyco.....


Silver Lining for those of us up North: Goodbye thoughts of the Magic going to California and HELLLLOOOOOO Camden Yards, New Jersey!!!!

 

[mike2beach]

Wow!! How would they pull that long of cable behind the Disney Magic and Wonder ???

 

[inkkognito]

I would hope that Comcast wouldn't plaster their name all over everything, but I remember too well what happened to King's Island. If you've never heard of it, it's the amusement park that was featured on the Brady Bunch ages ago (remember when the kids lost Mike's drawings on the rides?). Anyway, about 10 years ago, Kings Island and the other amusement parks owned by the same company were taken over by Paramount (ironic, I guess, since they were the producers of the Bradys). I watched as a park that used to be once of the most quaint and homey I've ever known turned into a money-churning, souless carbon copy of every other theme park. I knew the writing was really on the wall, when they plastered the name "Paramount's" on everything, i.e. Paramount's Kings Island, Paramount's Ice Show, Paramount's Restrooms, etc. They eliminated the Christmas Fest, closed the restaurant overlooking the fountain, stuck in all sorts of movie-related stuff that didn't belong, took away the ice show, and plastered all the rides with movie names. Ugh!
Of course, Eisener has done a pretty good job of commercializing/ruining WDW himself, at least in my humble opinion. That's why I cruise so much instead of going to the parks like I used to.
I'm sure that Walt is spinning in his cryogenic capsule at the thought of his beloved company being sold.
Barb
Visit the Platinum Castaway Club at: www.castawayclub.com

 

[cjsmith]

Hopefully Disney will stay Disney, but I will say that we have Comcast and I do love their company. Their customer service down here in Naples is exceptional and everything we have is cutting edge.
Disney certainly needs a shake up in my opinion. Hopefully this is it and Eisner will take notice and make some changes for the better with Disney. Disney is not the disney of years ago and needs to polish up on some things. The stock used to be a dream stock and hasn't been for a while. Maybe this will get things perking again.

 

[inkkognito]

I will admit that Comcast knows how to run a cable company. We have had digital cable for a long time here and just love it. Why have only 60 channels with nothing on when you can have 260 with nothing on?!
Seriously, though, I do love my digital cable. We got it literally the day it became available.
Barb
Visit the Platinum Castaway Club at: www.castawayclub.com

 

[justcruisin]

My initial feelings were that of horror. But after listening to the money experts, they all feel it's a win win situation. Comcast is buying the Disney name ... I'm hoping we'll hardly notice a difference.... except for the stock price!

 

[valeriekc]

Here's an article regarding the offer that seemed the most clear to me;

LOS ANGELES, Feb. 11 (Xinhua) -- The Walt Disney Co. said Wednesday that its board will "carefully evaluate" the takeover bid proposed by US cable giant Comcast Corp.

In a separate statement issued after Disney reported its first-quarter results Wednesday, the company said there is currently no action for its shareholders to take on Comcast's 66-billion-dollarbid.

Disney added that its board will "carefully evaluate" the proposal, which represents a 9.9 percent premium to Disney shareholders.

The Philadelphia-based Comcast said it made its bid public in light of Disney's refusal to consider the proposal made privately earlier this week. The offer includes the assumption of 11.9 billion dollars in Disney debt.

News of the Comcast bid sent Disney shares surging on the New York Stock Exchange. At noon Wednesday, Disney shares were up 3.54dollars, or 15 percent, to 27.62 dollars on hefty volume of 62.8 million shares. Average daily volume is 8 million shares.

Meanwhile, Disney reported net income of 688 million dollars for the quarter that ended on Dec. 31, up from 36 million dollars in the same period a year earlier.

Disney revenue increased 19 percent to 8.55 billion dollars from 7.17 billion dollars. Disney reported revenue growth across all its operating segments, led by studio entertainment, where revenue climbed 57 percent to 2.96 billion dollars.

The company attributed studio entertainment's revenue jump to strong growth in home entertainment, specifically the releases of two cartoon movie hits, including "Finding Nemo," which was produced in cooperation with Pixar, and "Pirates of the Caribbean."

Revenue at the media networks business climbed 5.8 percent to 3.11 billion dollars. The segment posted operating income of 344 million dollars, compared with a year-earlier operating loss of 71million dollars.

Revenue at Disney's parks and resorts segment increased 5.4 percent to 1.63 billion dollars, and operating income edge up 3.1 percent to 232 million dollars.

Comcast's bid comes at a difficult time for Disney Chairman and Chief Executive Michael D. Eisner, who has been under attack from two former board members, including Roy Disney, nephew of Disney founder Walt Disney and Stanley Gold.

Disney and Gold resigned from Disney's board late last year in protest to Eisner's way of managing the entertainment giant. They have been urging Disney shareholders to vote "No" on the reelection of Eisner and three other Disney board members at the company's March 3 meeting.

Last month, the famous cartoon studio Pixar delivered a blow toDisney by ending talks to extend their distribution deal for Pixar' s computer-animated films. Analysts said Pixar could be a Disneycompetitor if they end the lucrative animation partnership. Enditem

 

[chrissyt27]

I don’t remember seeing a sign that said Disney was for sale:< I hope that this doesn’t happen. I want to work for the Walt Disney Company, Not Comcast. I just don’t see this as a good thing.

Chrissy

 

[veruka]

we were just talking about this at dinner tonight. I can't believe this is even an option..

we're stockholders in Disney (like many of you on these boards), and even though this is a lucrative move as an investor, it still goes against everything I believe.

I read that Comcast issued a statement that revolved around the idea of..."of course the theme parks will stay, they just will be refurbished" (or something to that extent).

What needs to be changed, is what I'd like to know? Do we really need another Magic Mountain?

All I can say is it's WRONG, WRONG, WRONG!

 

[Donalds_best_pal]

I hope it does not happen. I almost past out when I read the news this morning. Dont let this happen. This cant happen. When I am out of college I want to work for WDI not ComCast WDI! NO NO NO NO! Dont let this happen please!
NO,
Matt

 

[ThreeCircles]

Originally posted by veruka
we're stockholders in Disney (like many of you on these boards), and even though this is a lucrative move as an investor, it still goes against everything I believe.

I'm not too sure that the deal would be "lucrative" in the long run. As many news articles have noted, Comcast and its CEO have no experience in running a content-based media company. They have experience in distribution, but the two are not one and the same.

As far as you being stockholders, use that power that you have! Call Disney and voice your concern about this potential merger. Urge them to stay strong and independent! Make your voice heard!

Disney is not going to take this easy. One article mentioned that they are already lining up lawyers, bankers, and investment analysists to fight this.

 

[IrishCowboy]

Barb,
I grew up 15 miles from Kings Island and LOVED it! It was a fantastic park.

 

[DMS_cruisers04]

..."of course the theme parks will stay, they just will be refurbished"

Let's not get any crazy rumors started.

The article is here . And it said...

"We believe the theme parks could be revitalized. It's a great business," Stephen Burke, executive vice president at Comcast

 

[tfc3rid]

Information is also out ther ethat Comcast would have NO interest in the Theme Parks and resorts and will probably spin them off to the high bidder...

That goes for DCL as well...

It is very sad.

 

[disneyfan551]

The last post just sent chills through me...

I think we need to do something! What can we do? I will definitely look into sending a message through Shareholder Services. What about those online petitions? This just can not happen!!!

 

[DMS_cruisers04]

tfc3rid, where did you see/hear that? The article I posted totally contradicts that idea.

Comcast said it plans to drive attendance at the parks through advertising and cross-promotion at attractions, hotels and concessions.

and the article goes on to say

Industry sources say Comcast would never sell the parks and risk alienating the children drawn to the parks by Mickey Mouse, Donald Duck and the other characters.

not to mention

Another incentive for Comcast to keep them is just how hard it would be to sell them, analysts said.

I'm not saying that it's not possible, but it is highly improbable.

 

[tfc3rid]

The psoter Another Voice on the rumors board...

He is on the inside and says this is the plan. Comcast says the right things but has no real intent to keep the Parks and Cruise Line, Vacation Club, etc...