Bet on Disney and Goldman, not GM
DISNEY: Wow! Bob Iger has been a busy bee, hasn't he? He took over from Michael Eisner last fall and has shown the world pretty quickly how Eisner -- now a talk show host to be -- had boxed this company in. First Iger made peace with dissident shareholders, Roy Disney and Stanley Gold. Then he made a deal with Apple to put ABC shows up on iTunes, which set the stage for his deal to buy Pixar. Today, according to the Wall Street Journal
, in a widely anticipated deal DIS
will announce the sale of its radio business to Citadel for some $2.7 billion. Now we aren't talking Radio Disney or ESPN Radio, Disney keeps them. We're talking the old ABC radio stations. Media folks will tell you there isn't much synergy there, and the deal brings in much needed cash. Disney's stock hasn't really responded yet, but I think over time it will.