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78 of a share of its stock for each Disney share, and Disney shareholders would retain 42 percent of the combined company proposed early Wednesday to buy Walt Disney Co Philadelphia-base d Comcast merged with AT&T Broadband in November 2002, and the company noted that merger in its sales pitch Wednesday Comcast shares ended trading Tuesday at $32 Under the merger, Comcast said it would issue 0 , the iconic media and entertainment powerhouse that owns the ABC and ESPN television networks, movie studios and theme parks, for stock valued at about $54 billion Comcast Proposes to Buy Walt Disney Feb 11, 9:16 AM EST In a surprise move, cable TV giant Comcast Corp Disney, the nephew of Disney founder Walt Disney, and Stanley E 9 billion in Disney debt "Our management team has a proven track record of successful integration of our merger partners," Roberts said The nation's biggest cable systems operator said it would also assume $11 Calls to Disney representatives Zenia Mucha, Michelle Bergman and John Spelich were not immediately returned early Wednesday In October, the company reported net income of $3 The deal values each Disney share at $25 Comcast said Eisner declined earlier this week to discuss a possible merger 18 billion and stronger-than-expect ed demand for premium services including high-speed Internet access 69, a 7 percent premium over their closing price Tuesday, or more than $5 billion total Comcast's stunning proposal was made even as Disney boss Michael Eisner is fending off criticism from former board members Roy E 08 Gold about his performance and lack of a succession plan as Disney's chief executive Comcast has more than 21 million total cable television subscribers in 35 states and the District of Columbia "Given this, the only way for us to proceed is to make a public proposal directly to you and your board," the letter stated It has not yet released its results for the most recent quarter Roberts said in a statement "This is a unique opportunity for all shareholders of Comcast and Disney to create a new leader of the entertainment and communications industry," said Comcast president and chief executive Brian L The letter from Roberts called it "unfortunate" that Eisner was not willing to enter into discussions 94; Disney shares finished at $24 Michael Citrick, spokesman for Disney and Gold, said they had no immediate comment Comcast also released a letter sent to Eisner indicating that Eisner had personally rejected Roberts' offer to enter into discussions about a merger earlier in the week Porn Charges Jan 22, 1:08 PM EST R Col Kelly, already facing child pornography charges in Illinois, was arrested Wednesday in Florida on additional child pornography charges after investigators said they found 12 photographs of a nude girl at the singer's home He said the photos were found last June during a search of a home Kelly rented in Davenport after he was arrested there on the Illinois warrant Davenport, in Polk County, is about 35 miles southwest of Orlando The R&B singer is known for hits ranging from the Grammy-winning, gospel-like "I Believe I Can Fly" to sexually charged material such as "Bump 'n' Grind," "Feelin' On Yo Booty" and "Your Body's Callin' Kelly Arrested on Fla In the other nine photos, the female is nude The Grammy award-winning artist has been out on bond and awaiting trial on 21 counts of child pornography in Chicago Kelly, whose first name is Robert, was arrested without incident at a Miami-Dade County hotel Kelly, 36, has denied that charge He was being held at the county jail He was nominated for a Grammy earlier this month for the song "The World's Greatest," from the "Ali" soundtrack Bond was set at $12,000 R Kelly also has been the focus of at least four lawsuits, three of which accuse him of having sex with underage girls " The Illinois investigation began after the Chicago Sun-Times reported last February that it had received the tape anonymously and passed it along to Chicago police Kelly's new album, "Chocolate Factory," is scheduled to be released in February Grady Judd of the Polk County Sheriff's Office told WSVN-TV that three photos show Kelly having sex with a female under 18 Those charges stem from a videotape authorities say shows him having sex with a 13-year-old girl He has acknowledged settling two of the lawsuits regarding underage sex, but his lawyers have said they will fight the third |
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