Disney eyes AT&T Broadband

Massive shares issue could provide the cash...

Disney is preparing to raise around $7.5bn through a shares issue, increasing speculation that it is poised to make a bid for AT&T Broadband. AT&T last month rejected a $58bn hostile takeover bid from rival Comcast and opted to put the division up for sale. Disney has admitted it is interested in the business. Microsoft is thought to have held discussions with Disney about a joint venture in the cable television giant, The Times reports. AT&T Broadband is one of the largest US cable television companies with over 14 million subscribers.