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Disney turns down takeover bid as Muppets move in
POSTED 18 Feb 2004 . BY
Shares in entertainment giant, Disney, have been buoyant since the board of directors turned down a hostile takeover bid from US cable group, Comcast.

The battle for ownership now looks to head into a drawn out battle, as the board decided unanimously to back chief executive, Michael Eisner, despite calls for his head from influential former vice-chairman, Roy Disney.

As news of the turndown came through, Comcast played down the prospects of a higher bid, saying it is ‘uninterested in acquiring Disney at current market values’.

Comcast offered 0.78 of a Comcast share for each Disney share and the deal was initially worth $54bn (£28bn) – but has since reduced to $48bn (£25.1bn) due to the slide in Comcast shares and the rise in Disney’s value.

Disney claimed earlier this week that the offer is now $3.60 per share less than the current value of its stock.

As the markets closed in New York yesterday, Comcast’s shares were worth $30.79 – up 89 cents – while Disney closed marginally down at $26.88.

Disney also announced that it had finalised a deal to acquire the popular Muppets characters yesterday, after having been interested in buying them since 1990.

Disney obtained the TV and film rights of the puppets after the children of their creator, the late Jim Henson, agreed to sell the rights for an undisclosed sum. Details: www.disney.com or www.muppets.com

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Jobs   News   Products   Magazine
NEWS
Disney turns down takeover bid as Muppets move in
POSTED 18 Feb 2004 . BY
Shares in entertainment giant, Disney, have been buoyant since the board of directors turned down a hostile takeover bid from US cable group, Comcast.

The battle for ownership now looks to head into a drawn out battle, as the board decided unanimously to back chief executive, Michael Eisner, despite calls for his head from influential former vice-chairman, Roy Disney.

As news of the turndown came through, Comcast played down the prospects of a higher bid, saying it is ‘uninterested in acquiring Disney at current market values’.

Comcast offered 0.78 of a Comcast share for each Disney share and the deal was initially worth $54bn (£28bn) – but has since reduced to $48bn (£25.1bn) due to the slide in Comcast shares and the rise in Disney’s value.

Disney claimed earlier this week that the offer is now $3.60 per share less than the current value of its stock.

As the markets closed in New York yesterday, Comcast’s shares were worth $30.79 – up 89 cents – while Disney closed marginally down at $26.88.

Disney also announced that it had finalised a deal to acquire the popular Muppets characters yesterday, after having been interested in buying them since 1990.

Disney obtained the TV and film rights of the puppets after the children of their creator, the late Jim Henson, agreed to sell the rights for an undisclosed sum. Details: www.disney.com or www.muppets.com

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Mary Rose Museum faces £2.2m funding shortfall as chief calls for increased independent museum support during COVID-19 crisis
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Triotech was established in 1999. The company is based in Montreal, Canada and has additional offi [more...]
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IDEATTACK is a full-service planning and design company with headquarters in Los Angeles. [more...]
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By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [more...]
+ More profiles  
FEATURED SUPPLIER

Healthy appetite for investment at EAG International 2020
A buoyant EAG International has welcomed in the new decade as a well-rounded event with high levels of optimism and positivity on the show floor. [more...]
VIDEO GALLERY

Red Raion Showreel 2019
Red Raion is the CGI studio specialized in media based attraction. Find out more...
More videos:
Miko and the Spell of the Stone - Movie Trailer – Red Raion
Trailer Aladdin - The Bachelor Party VR – Red Raion
Introducing AnimaChat! – Animalive
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

06-08 Apr 2020

World Travel Market Africa

Cape Town International Convention Centre, Cape Town, South Africa
08 Oct 2020

VAC 2020 (The Annual National Conference of Visitor Attractions)

Queen Elizabeth II Conference Centre, London, United Kingdom
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

ABOUT LEISURE MEDIA
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