You think Eisner’s bad?

Comcast, the huge, customer-service devoid cable conglomerate, has made a takeover bid for Disney.

Comcast, the largest U.S. cable television operator, Wednesday launched a stunning proposal to buy Walt Disney in a deal Comcast said would value Disney at $66 billion including debt.

If successful, the deal would vault Comcast into one of the world’s largest media companies, combining Disney’s film studio, ABC television network, ESPN sports network and theme parks with Comcast’s 21 million cable subscribers.

If Eisner’s detractors think that he is raping and pillaging Disney’s vaults to make a quick buck, wait until they see what Comcast might do. I think that Walt & Roy are vomiting in their graves right now.

What’s scary is that Disney stock jumped on news of the offer, showing that stock holders these days know little about business or the companies they have investments in. A Comcast takeover of Disney will make money for shareholders because of the offer. And Comcast will see profits quickly because they’ll sell off assets of Disney. But the Disney brand will rapidly disappear as the bean counters destroy whatever is left of the creative output of the company. Then how will that stock do?

I wish I had billions of dollars. Aside from the many other reasons, I’d like to have it so I could engineer a purchase of Disneyland (just the original, not California Adventure… please) and preserve it as Walt built it. For history. Before it falls apart and decays under the stewardship of Eisner, Comcast, or whoever else comes down the pike.