Verizon Communications (VZ) Chief Executive Lowell McAdam put speculation that the company would buy Walt Disney Co. (DIS) to rest during the Allen & Co. annual media and technology conference being held this week in Sun Valley, Idaho.
When asked if there was truth to the rumors, which resurfaced last week, he bluntly responded “No,” according to Variety. The executive, who has expressed interest in deal-making in the past, made the comment as he walked past a group of reporters at the confab. The annual event, which brings together some of the leading executives in entertainment and technology, has spawned many deals in the past. (See also: Three Reasons Why Verizon Won’t Buy Disney)
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