Cable TV giant Comcast proposes a buyout of Disney for $54 billion

February 13, 2004 at 12:00a.m.

NEW YORK (AP) -- Cable television systems giant Comcast Corp. proposed early Wednesday to buy theme park and entertainment giant Walt Disney Co. for stock valued at about $54 billion.
The nation's biggest cable systems operator said it would also take on $11.9 billion in Disney debt to push the total value of the deal to $66 billion.
"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 Officer Brian L. Roberts said in a statement.