Comcast loves news about potential deals when it appears on its CNBC. But when the cable giant is the subject of reports it would rather not discuss — as it is this morning following last night’s disclosure of its interest in DreamWorks Animation — then it describes the journalism pejoratively as mere “rumors” and “speculation.”
The company used the belittling terms this morning to explain why it would not discuss the news in a quarterly earnings call with analysts.
Wall Street seems to think more highly of the reports: DWA’s shares are up about nearly 18% this morning. ...
I'm sure the two companies wanted to keep the acquisition/merger discussions on the low-down, but it's hard to keep a secret in the city of zazz and flash, where rumor-monger and trading scuttlebutt (usually amended with "you didn't hear this from ME, but ...") is the coin of the realm.
But it's certainly no secret that Mr. Katzenberg has worked to sell DreamWorks Animation to the highest bidder for a long time. And there's this long-time track record of secret talks becoming unsecret, and irritating the primary negotiators.
Add On: Word reaches us that these Comcast/DreamWOrks Animation talks have been going on for some time, and are only now being "discovered" by the financial and entertainment media.