In a move to create the world's biggest media company, Comcast has launched a $54 bn hostile bid to acquire Walt Disney in February 2004. Whether the deal would be successful or not is dependent on Comcast winning a clear majority in Disney shareholdings. Only time could tell what would happen. Comcast can return the Disney brand to prominence and the Disney Company to growth. - Brian L Roberts, CEO, Comcast1In early 2004, Brian L Roberts, CEO of Comcast, America's leading cable operator, was thinking of ways to enrich the content side of his empire. His archrival News Corp had closed a deal in December 2003, to acquire DirecTV, the largest satellite service provider in the US.

This deal was closed at a time when most media companies were still recovering from the expensive mistakes they had committed during the halcyon days of the Internet. News Corp was the only well performing company in a beleaguered media industry. Roberts wondered if acquiring a content-rich media giant would be the answer to the missing link in the distribution empire of Comcast. Comcast, which operated broadband cable networks and provided programming content had acquired AT&T Broadband in 2003, boosting its subscriber count to 21.4 million.

It made Comcast the largest US cable TV operator, well ahead of number 2 Time Warner Cable. Comcast's content businesses included majority ownership of Comcast Spectacor, Comcast SportsNet, E! Entertainment Television, Style Network, The Golf Channel, Outdoor Life Network and G4 and owned several other programming investments. Other interests included 53% of SportsNet, a regional network that broadcasted home games of the Philadelphia Flyers, 76ers, and Phillies. With 59,000 employees, Comcast was one of the largest companies in the US.