Disney rejects Comcast offer

Disney on Monday said it rejected an unsolicited $48.95 billion takeover offer from cable television company Comcas. Disney’s board said it had full confidence in the business, financial and creative direction of the company under the leadership of Chief Executive Officer Michael Eisner. Comcast, the nation’s largest cable TV company, last week made a surprise bid to acquire Disney, an entertainment icon which owns Hollywood’s top studio, the ABC television network and the cable sports network ESPN.

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