The Mouse Stalks The Peacock

What goes around comes around. Years ago, when RCA was looking to sell the NBC television network, Disney Chairman Michael Eisner was among those interested. Federal restrictions on studio-network combinations, and a hefty price, dissuaded him then. Now, with federal restrictions fading and NBC's current owner General Electric peddling the network, Eisner is on the phone again--with an offer sources put at $5 billion. Disney executives won't comment officially. But insiders say Eisner feels compelled to find a distribution outlet for his films--even though he worries he is overpaying. Eisner's offer may be more attractive than a $2.5 billion bid for 49% of NBC from Time Warner.

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