Earlier this month Comcast made an unsolicited bid to buy the Walt Disney Company for $66 billion. Other than acknowledging the offer, neither the Disney board nor management has formally responded to the offer.
Over the last decade, Comcast has moved aggressively through a series of mergers and acquisition to become the nation’s largest cable television operator and, potentially, media combine.
The Disney bid comes about two years after federal regulators approved Comcast’s $30 billion acquisition of NBC Universal. In 2002, Comcast acquired At&T’s cable and broadband holdings for $29 billion. In 2004, it made a $48 billion bid for Disney that was rejected.
The pre-nbc Comcast of 2011 operated in 29 states and had 22-plus million cable subscribers along with 8 million Internet subscribers. Comcast has long coveted “content” or programming as part of its business model. It had interests in the Golf Channel, E! Entertainment, G-4, Style, the lifestyle website Daily Candy, and »
- David Rosen
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