Reuters: Comcast Chief Says Disney Merger Not a 'Must-Have'
The head of Comcast Corp., the largest U.S. cable operator, on Wednesday said a proposed merger with the Walt Disney Co. was not a "must-have," even if it would benefit both companies.
Brian Roberts, the cable company's chief executive, last month made an unsolicited $48 billion offer for Disney, which the Burbank, California entertainment major firmly rejected.
After he made the Feb. 11 offer, which at the time represented a 10 percent to 18 percent premium, Comcast's stock plummeted while Disney's soared.
"I do think the idea could add value to both companies but if it can't be, it's OK," Roberts told reporters after a speech before the Boston College Chief Executives Club in Boston. "We don't feel it's a must-have."