Mouse ears for Jerry Yang? I don’t think so.

Madrona Venture Group’s Matt McIlwain is predicting that Disney (NYSE: DIS) will make a play for unlucky in love Yahoo! (Nasdaq: YHOO).

“I actually think the most logical buyer is Disney,” McIlwain said last night. “And the rationale is that Yahoo for the last six to eight years has focused hard on being a content company and a manager and leverager of content assets.”

To be fair, McIlwain initially joked that no one should buy Yahoo!. He also made his comments during the Washington Technology Industry Association’s annual predictions dinner, where you seem to score as many points for being quotably outlandish as you do for being correct.

However, since this is the kind of chatter that is quickly spun into bogus buyout buzz, let’s shoot this one down before it leaves Fantasyland.

There are several reasons why this is highly unlikely to happen. Read The Rest of this story….