SBD/1/Sports Media

DISNEY BUYS CAP CITIES/ABC: SELECTED REAX

     WASHINGTON POST'S PAUL FARHI:  "In one stroke, Disney would
become the largest among the handful of global entertainment
goliaths" (WASHINGTON POST, 8/1).
     MEDIA ANALYST PAUL SCHULMAN:  "It's a shock.  If you'd heard
Disney had bought one of the three networks, your third guess
would have been ABC.  How did they keep this quiet?  That's what
I want to know" (USA TODAY, 8/1).
     BOOZ, ALLEN & HAMILTON'S MICHAEL WOLF:  "The merger wave in
media is far from over.  I think this puts a premium on the two
remaining networks and makes them much more interesting to other
media companies" (DAILY VARIETY, 8/1).
     DREAMWORKS' JEFFREY KATZENBERG:  "Everything I speculated on
was wrong.  This one wasn't even on my radar screen" (L.A. TIMES,
8/1).
     L.A. TIMES' TOM PETRUNO:  "While synergy is an overused word
on Wall Street, many large investors say this merger offers more
potential for true synergy than most" (L.A. TIMES, 8/1).
     INVESTOR WARREN BUFFETT:  "It's a marriage of the No. 1
content company in the world with the No. 1 distribution system"
(REUTERS/FINANCIAL POST, 8/1).
     SMITH BARNEY'S JOHN REIDY:  "This is a colossus among
colossuses. ... It's a company which is going to have the muscle
to do almost anything it wants" (NEWSDAY, 8/1).
     L.A. TIMES' CLAUDIA ELLER:  "Hollywood, Wall Street and the
entertainment media at large were all caught with their pants
down" (L.A. TIMES, 8/1).
     VIACOM CHAIR SUMNER REDSTONE:  "There was not a whisper.
This was a well kept secret" (BOSTON GLOBE, 8/1).
     TELE-TV CHAIR & CEO HOWARD STRINGER:  "This is Godzilla
marrying King Kong.  The jungle is going to be a lonelier place
for everyone else" (WALL STREET JOURNAL, 8/1).
     NEWS CORP. CHAIR RUPERT MURDOCH:  "They are twice as big as
me now" (WALL STREET JOURNAL, 8/1).
     RUTGERS PROF. BENJAMIN BARBER, in a N.Y. TIMES op-ed:  "The
fashionable term for all this vertical and lateral corporate
integration is synergy, but synergy turns out to be just another
word for monopoly" (N.Y. TIMES, 8/1).
     UPENN'S JOSEPH TUROW:  "The engine of all this is the
globalization of media.  In order to make money on content, you
have to be able to move your content through a larger number of
distribution windows than in the past" (PHILADELPHIA INQUIRER,
8/1).
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ABC, News Corp./Fox, Media, Viacom, Walt Disney

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