Wednesday, May 26, 2010

Disney arrest throws fuel on ABC sale rumor

I saw it on CNBC and now the financial news sites are publishing like mad about the recent Disney employee arrest.   More from the New York Times:

Fisher-Price Mickey Hot Dog DancerTwo people, including an employee of the Walt Disney Company, were arrested in Los Angeles on Wednesday on charges of insider trading tied to the entertainment giant.

The two individuals — Bonnie Hoxie, an executive assistant at Disney, and Yonni Sebbag, a friend — were accused of trying to sell confidential information about Disney to several investment firms, including hedge funds.

The information included quarterly earnings and purported tips on alleged efforts to sell the ABC television network to private equity firms. READ THE REST

Guess this explains where all the ABC for sale rumors are coming from that financial sites have been posting the last several months. Who knows if it is even true.

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