Oh, in corporate terms, a lot of suspected. But there was also the line of thought that having successfully held the licence for 22 years and building up an excellent record would also count in DHC's favour over Disney. Sadly, to invoke @Havac's post, the accountants deemed it of no value compared to ensuring it was done within the conglomerate family. The problem with this outlook? That you can do an excellent job, get lauded for what you do but if the company decides you're on the wrong side of a maths equation, it don't count for squat!