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Eisner confirms Disney could buy Henson and Muppets soon

Courtesy of Reuters
March 19, 2003

Walt Disney Co. Chief Executive and Chairman Michael Eisner said on Wednesday that a deal to buy Muppet-maker Jim Henson Co. from Germany's EM.TV & Merchandising AG could happen soon.

That confirmed a report by Reuters on March 8 that Disney was the favorite among a number of bidders to buy Henson and could pay $70 million for it after more than a decade of sporadic talks to buy Muppets Kermit the Frog and friends.

Asked by a shareholder at Disney's annual meeting in Denver whether Disney would buy Henson, Eisner said in Webcast comments: "I would not be surprised to hear that there would be an announcement soon. I wouldn't be surprised that the Walt Disney Co. would be finally culminating years of romance."

Kermit the Frog, Miss Piggy and the other Muppet characters are seen as a good cultural fit for family-oriented Disney, which already has some Muppet attractions at its theme parks.

The shareholder asked whether Disney would pay $100 million to $200 million for Henson and Eisner said he would be surprised by a price "anywhere near" that range.