"I think being focused as a former rower, eyes in our own boat, and get the job done is going to be what the next couple of years give us an opportunity to do."
"stress the Comcast balance sheet to any stressful level."
"I respect and understand the decision of the Warner Brothers board to obviously prefer the certainty of high levels of cash or collared stock and not what we were willing to go to to make it happen,"
"So good news is that we like what we were doing, as I just described, and we roll on with a lot of focus. But I think we're better for having taken a look."
Comcast prepared a proposal for Warner Bros. Discovery centered on equity rather than high cash, offering WBD shareholders a substantial percentage of a combined entertainment company merging NBCUniversal Parks, Media, and Studios with Warner Bros.' studio streaming segment. The bid intentionally limited cash to avoid stressing the Comcast balance sheet and was lighter in cash than competing proposals. Comcast debated engaging given potential disruption and distraction but chose to explore the opportunity. The Warner Bros. board preferred the certainty of high cash or collared stock, and Comcast accepted that outcome while maintaining focus on core operations.
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