The one thing that is clear is that this is a generally lousy business.
Disney has the superior balance sheet, cost of debt, equity and rationale to emerge victorious over comcast in a bidding war.
When a company has to explain why they probably won't default on their debt, it's usually not a good day for equity holders.
If t-mobile is acquired before they get that chance, sprint's in a world of hurt.
The real question now is if time warner cable has any more appetite to be acquired now.
