Disney on AOL – “NO” comment
Not that anyone was suspicious, but in case you’re wondering Disney isn’t buying AOL .
Iger blurted that out in response to BusinessWeek editor John Byrne’s question on stage at the McGraw-Hill Media Summit in New York on Wednesday.
Byrne: “Can we expect Disney to make another big acquisition? Would you think about AOL for example?”
“No,” Iger jumped in, drawing some chuckles in the audience. “We don’t want to comment on specific acquisitions, although I just did.”
“We have a very strong balance sheet, cash flow is strong and we will buy something if we feel it will add value. We have the wherewithal to do that, but it’s not a necessity.”
In case there was any doubt in the audience, Iger didn’t comment one last time: “If I were to poll this audience, they’d come to the same conclusion: Disney is not going to buy AOL.”
That’s the kind of “no comment” I appreciate.