Eisner's battle for survival
In a throw-back to the old days of giant-sized hostile takeovers, Comcast's response to Eisner's reluctance to respond to honey has been to switch to vinegar.
Cable television giant Comcast Corp. (CMCSA) made a surprise bid for The Walt Disney Co. that would create the world's biggest media conglomerate and likely spell an end to the 20-year career of Disney chief Michael Eisner.The offer was initially valued at $54 billion. The run-up in Disney stock today (the highest Dow closing in two and a half years -- an unfortunately timed rally for Comcast) means Comcast will likely have to sweeten the offer to be successful.Comcast, which said Eisner had rejected the idea of private talks, stunned the media world with its announcement early Wednesday.
UPDATE: Time Warner has joined the mouse-hunt, contemplating a competing bid for Disney.
Posted by Dan Brooks on February 11, 2004 at 10:58 PM in Business | Permalink
No More "Bennifer"?
It appears that the once sensational relationship has come to an end. According to a report by the Associated Press, a spokesperson of Jennifer Lopez confirmed the end of relationship between Lopez and Ben Affleck.
While this bit of entertainment news might not mean anything to the rest of the world, Affleck's career has taken its toll since he began the highly publicized relationship with Lopez. Affleck's recent downfall was evident with the disastrous release of the movie Gigli and the mediocre box-office performance of John Woo's sci-fi flick Paycheck.
The show business fuels on make-ups, break-ups, and celebrity gossips. With the release of Affleck and Lopez's latest collaboration - Jersey Girl - draws near, perhaps this news is yet another chapter of the never-ending "Bennifer" marketing saga.
Posted by Albert Loo on January 23, 2004 at 10:43 AM in Business | Permalink
