Mickey Gets Woody - I mean Disney Buys Pixar
By Bernie on 24 Jan 2006
Disney said Tuesday it is buying longtime partner Pixar Animation Studios Inc. for $7.4 billion.
On the same day UPN and The WB announced a merger to create a new network, The CW, The Walt Disney Co. announced a full-stock purchase of animation partner Pixar 1.
Although on its face, it looks as if Disney is taking control of Pixar, I am certain that Jobs will soon direct much of Disney's future.
This deal is pregnant with possibilities: Pixar/Disney Content broadcast over Disney channels and downloaded to video ipods/iphones. Jobs built Pixar into a multi-billion-dollar movie-maker, having bought the computer graphics division of George Lucas's Lucasfilm for a measly $10 million in 1986. Since Jobs owns a little more than half of Pixar, this deal is worth at least $3.7 billion, netting him a 6.8% stake in Disney.
Lasseter, the creative director at Pixar who had previously worked for Disney, will rejoin the House of Mouse as chief creative officer for the company’s combined animated studios and will also help oversee the design for new attractions at Disney theme parks. Disney World is suddenly much bigger.
Notes
(1):
CBS News, Disney Buying Pixar; Fledgling Stations WB, UPN To Shut Down, Merge
Disney said Tuesday it is buying longtime partner Pixar Animation Studios Inc. for $7.4 billion in a deal that could restore Disney's clout in animation while vaulting Pixar CEO Steve Jobs into a powerful role at the media conglomerate.
Disney will buy the maker of the blockbuster films "Toy Story and "Finding Nemo" in an all-stock transaction that makes Jobs Disney's largest shareholder. Jobs, who controls more than half of Pixar's stock and also heads Apple Computer Inc., will also join Disney's board.
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