| The deal would give Disney shareholders a premium of more than $5 billion, based on Tuesday closing stock prices
Comcast also released a letter sent to Eisner indicating that Eisner had personally rejected Roberts' offer to enter into discussions about a merger earlier in the week
"This is a unique opportunity for all shareholders of Comcast and Disney to create a new leader of the entertainment and communications industry," said Comcast president and chief executive Brian L
Comcast has more than 21 million total cable television subscribers in 35 states and the District of Columbia "Given this, the only way for us to proceed is to make a public proposal directly to you and your board," the letter stated Roberts said in a statement Comcast Offers to Buy Walt Disney Co The entertainment giant has faced an aggressive campaign to oust Eisner waged by former board members Roy E
Philadelphia-base d Comcast merged with AT&T Broadband last November, and the company noted that merger in its sales pitch Wednesday
Feb 11, 8:28 AM EST
In a surprise move, cable TV giant Comcast Corp Gold about his performance as Disney's chief executive 9 billion in Disney debt to push the total value of the deal to $66 billion
The nation's biggest cable systems operator said it would also assume $11
The letter from Roberts called it "unfortunate" that Eisner was not willing to enter into discussions
Disney, the nephew of Disney founder Walt Disney, and Stanley E , the iconic media and entertainment powerhouse that owns the ABC and ESPN television networks, movie studios and theme parks, for stock valued at about $54 billion In October, the company reported net income of $3
Comcast's stunning proposal was made even as Disney boss Michael Eisner is fending off criticism from former board members Roy E
Under the merger, Comcast said it would issue 0 proposed early Wednesday to buy Walt Disney Co 18 billion and stronger-than-expect ed demand for premium services including high-speed Internet access
Disney is expected to release strong first quarter earnings later Wednesday Disney and Stanley Gold It has not yet released its results for the most recent quarter
"Our management team has a proven track record of successful integration of our merger partners," Roberts said 78 of a share of its stock for each Disney share, and Disney shareholders would retain 42 percent of the combined company |