Finance: Comcast finally drops Disney offer

Posted at 8:45 AM EDT (1245 GMT)

Apr. 28th, 2004 -- On Wednesday, Comcast announced that it was finally dropping its $48 billion bid for Disney.

Comcast CEO Brian Roberts cited lack of interest among Disney's board and management in putting the two companies together as the primary reason in dropping its offer.

At the same time, Comcast reported a first quarter profit of $65 million, compared to a loss of $297 million in the same period a year ago. It also announced it would move ahead with a $1 billion stock buyback program.

For move, visit CNN Money.

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