LPNews: Comcast Response to Announced Disney Shareholders Vote

Comcast Response to Announced Disney Shareholders Vote

"Today's unprecedented withhold vote by Disney's shareholders sends a powerful message that Disney's Board and management need to focus more on shareholder interests. Consistent with this focus, Disney's independent directors should immediately meet with Comcast so we can directly present our full and generous proposal and the benefits of the merger.

"Under our proposal, the Disney shareholders would own 42% of one of the world's leading and best managed entertainment and communications companies.

The value of our proposal is significantly higher than the value of Disney on its own and would provide Disney shareholders with a substantial premium above Disney's unaffected share price compared to any relevant trading period over the past three years.

"We have a strong vision for a combined Disney/Comcast and are confident that this merger would deliver terrific value for the shareholders, employees, and customers of both companies."

--Posted March 3, 2004
Source: Comcast Corp