Disney Deals and Deals Again - The Motley Fool, 11/22/06

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The Motley Fool, 11/22/06
Disney Deals and Deals Again

By Rick Aristotle Munarriz (TMFBreakerRick)
November 22, 2006

If I can't have all of U, I'll settle for part of E!

Maybe those weren't the exact words used in sealing the deal between Comcast and Motley Fool Stock Advisor pick Disney, in which Comcast acquired the family entertainment giant's 39.5% stake in E! Networks. But they may have been close.

Back in February 2004, Comcast offered an unsolicited buyout bid that valued Disney at $66 billion. The House of Mouse felt vulnerable at the time, with then-CEO Michael Eisner's popularity waning and the media company in disarray.

After the jilting
Disney ultimately passed on the marriage proposal. Even though Disney theme parks are loaded with turnstiles, it wasn't about to go for an exit strategy. Disney was an acquirer, not an acquiree. It had most of the L's working for it -- legacy, library, and longevity. Sure, the tank may have been running empty on a few others, like leadership and legs, but it was really only a matter of time before ABC regained its groove and saved its original animation business by acquiring Pixar.

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