The WSJ (subscription required) weighs in with this article on Philadelphia-based Comcast‘s bid for Walt Disney Co. (can something be surprising and expected a the same time?). The LA Times article is also on top of the story, including a copy of Comcast’s letter to Disney’s Michael Eisner.
Given Eisner’s poor recent performance as Disney’s CEO and his stubborn refusal to give up the reins to Disney, the fact that an adverse takeover bid has emerged is not surprising. However, it is surprising that a company such as Comcast is the bidder. Comcast, essentially a cable TV company, controls a rather unusual programming line, including the controversial talk-show host Howard Stern’s show, the Golf Channel, and G4, a videogame channel.
My sense is that the late Walt Disney would not be particularly bullish on the potential market benefits of combining Tinkerbell with Howard Stern.