TVSpy LostRemote AgencySpy PRNewser FishbowlNY FishbowlDC SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Michael Eisner: ESPN 'One of the Best Acquisitions' of the Century

Former Disney CEO Michael Eisner is interviewed by the Associated Press, and he reflects on the purchase of ESPN he led with the company. In 1995, Disney purchased CapCities/ABC for $19 billion, acquiring ABC and ESPN in the process.

In the interview, Eisner calls the deal “one of the best acquisitions maybe of that whole century.”

“We spent the $19 billion because we wanted ESPN,” he said in a recent interview centered on Tuesday’s release of his book, “Working Together: Why Great Partnerships Succeed.” “It wasn’t an accident, no.”

ESPN continues to be not only the worldwide leader in sports, but Disney’s worldwide leader if profits, accounting for around half of the company’s revenue. As the AP article notes, SNL Kagan estimates ESPN will bring in nearly $7 billion in revenue this year alone.

Mediabistro Course

Social Media Strategy Boot Camp

Social Media Strategy Boot CampStarting November 10, build a complete social media strategy for your brand! Through a series of weeklong webcasts, marketing and social media experts will teach you how to integrate social media into your overall marketing strategy, understand key metrics and analytics, and master the emerging trends in social. Register now!