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Volume 24 No. 156
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     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).