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Published September 27, 1994
Negotiations are "intensifying between" Disney and GE over Disney's possible acquisition of NBC. Disney Chair Michael Eisner was in New York yesterday for further talks, "with the major stumbling block still being price." One possibility that has been discussed would have Disney paying "primarily in cash, with another component being a new issue of convertible preferred stock." That price range is said to be between $4-5B. GE is said to be carrying NBC on its books at a value of $4.2B. Although Time Warner also has been in discussions about NBC -- in this case, a 49% stake -- "many analysts and observers have become more skeptical of that plan" (Richard Turner, WALL STREET JOURNAL, 9/22).