Comcast, Disney Rise After Failed Takeover - New York Post, 2/4/07
New York Post, 2/4/07
Comcast, Disney Rise After Failed Takeover
Full Story: Comcast, Disney Rise After Failed Takeover
By PETER LAURIA
February 4, 2007 -- In three days, Disney CEO Bob Iger will make another round of celebratory bows before Wall Street, having pulled off another quarter of solid earnings and revenue growth.
The Street expects earnings per share to jump about 15 percent on an 8 percent rise in revenue as the Mouse House's studios and television networks continue to fire on all cylinders.
It's quite a change from February 2004, when an embattled Disney CEO Michael Eisner, leading the slumbering entertainment giant, faced a takeover assault from Comcast Corp. CEO Brian Roberts.
That attempt, the most aggressive of Roberts' career, came while the country's No. 1 cable company was itself seeking a way out of a slump - it was desperately seeking content to shore up its distribution platform.
The battle, while ultimately unsuccessful and a waste of energy for both companies, nonetheless was crucial - it forced Disney and Comcast to focus on their shortcomings and their strengths.
And it marked the beginning of a turnaround for both.