Is Apple Going to Acquire Disney for a Quarter of a Trillion Dollars?

Variety is reporting investors have again begun to talk about the possibility that Apple could acquire The Walt Disney Company. Assuming a 40% premium over current market value, the acquisition would cost $237 billion. The article also states Apple would likely spin off certain assets like ESPN and the theme parks.

What do you think the combined Apple / Disney company would look like? Would the result be good for Disney?