The reason it's important is that that's the key to unwinding some of their cable assets, that is, to sell to U S West New Media some of their cable properties in exchange for more flexibility in the corporate structure.
"Mario Joseph Gabelli" is an United States/American stock investor, investment advisor, and financial analyst. He is the founder, chairman, and CEO of GAMCO Investors/Gabelli Asset Management Company Investors (GAMCO Investors) a $30 billion global investment firm (assets under management (AUM)) headquartered in Rye (city), New York/Rye, New York. Forbes magazine's 2006 Forbes 400 rankings listed him as #346 on the list of wealthiest Americans and estimated his net worth at $1 billion as of 2011.
Gabelli founded his firm in 1977 as a broker/dealer, and the company has since grown into the diversified financial services corporation. Gabelli does not receive salary, bonuses, or stock options, but is paid a management-fee-based compensation. He was paid $5.5 million in 2004.{{cite news
/ last = Editors
/ first = Forbes Magazine
/ title =#346 Mario Gabelli
/ work =Forbes 400de
/ publisher =Forbes
/ date =November 2006
/ url =http://www.forbes.com/lists/2005/54/454O.html
More Mario Gabelli on Wikipedia.Investors should think about this as an enhanced money-market return.
I'm delighted to deal with an entity that knows the facts.
I would vote for the Hilton deal.
You're issuing 13 percent of Disney (stock) to buy a company that has a good record but a small company. I'm in the camp that says it may not be that necessary.
I think we're going from a market that's driven by momentum and driven by a flow of funds to a stock picker's market. That's going to provide very good opportunities for those that are focused on given areas.
It goes to show you he has a comfort factor with the power he has at Disney.
I like existing management's plan for the company but that doesn't mean we know how we're going to vote yet.
I have to echo the comments of those who would argue this plan is dead on arrival. It's got no zip to it. We need to see something else.
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