arrowfanman Posted January 24, 2006 Share Posted January 24, 2006 ABC News: http://abcnews.go.com/Business/story?id=1536674&page=1 Jan. 24, 2006 — The Walt Disney Company took a big step today toward bolstering its position in the film business. It has agreed to purchase Pixar Animation Studios for $7.4 billion. The deal combines Pixar with Disney's animation unit and represents the union of two huge forces in animation, from the old world of films and the new. Pixar CEO Steve Jobs will become Disney's largest shareholder, giving him an extraordinary position at the confluence of technology and entertainment, computers and film, as well as a commanding presence in the music industry through Apple's iTunes Music Store. Jobs will also be appointed to Disney's Board of Directors. For Disney, and its new CEO Robert Iger, the deal secures what has been a hugely valuable source of animated hits. The purchase is an all stock deal in which 2.3 Disney shares will be issued for each Pixar share. The sale is expected to completed by this summer. In recent years, Disney, the parent company of ABC News, has struggled to produce the types of blockbuster animated movies that the company built its reputation on. Disney hopes the deal will give it the most dominant animation production house in the industry. In past joint productions, Disney and Pixar's films have generated more than $3 billion, including hits like the "Toy Story" series and "The Incredibles." The company is hopeful that purchasing Pixar will return Disney to the dominant player in the animation field. The partnership between the two companies deteriorated in recent years when Jobs openly feuded with longtime Disney CEO Michael Eisner. Robert Iger, who succeeded Michael Eisner as Disney's CEO in October, made a priority of smoothing over relations with Jobs and was in the midst of renegotiating the distribution pact, which expires in June with the release of "Cars." The combined company is expected to maintain the basic working structure that Disney and Pixar used before, with Disney providing distribution and co-financing for Pixar's computer-animated features. One of the questions surrounding the negotiations was what would happen to Pixar Executive Vice President John Lasseter, who has a track record of producing money-making movies. Lasseter will be the chief creative officer of the animation studios, as well as principal creative advisor at Walt Disney Imagineering. Pixar shares have risen since late last year, as rumors of a possible merger or distribution deal with Disney attracted traders to the company's stock. Some analysts suggest that much of the "premium" Pixar shareholders could expect from a merger is already priced into the company's market capitalization. For the Walt Disney Co. one of major challenges facing Iger is to bolster Disney's stock price, which has stagnated in recent years. Yup...its kinda like that. I'm a bit sketchy on it, but then again, I know nothing about business! All I know is that I am guarenteed more Pixar films, so I am cautiously pleased. -Jahan Link to comment Share on other sites More sharing options...
Wes Posted January 24, 2006 Share Posted January 24, 2006 Does this mean I can finally get a decent machine at work? Link to comment Share on other sites More sharing options...
Slacking Posted January 25, 2006 Share Posted January 25, 2006 One of the questions surrounding the negotiations was what would happen to Pixar Executive Vice President John Lasseter, who has a track record of producing money-making movies. Lasseter will be the chief creative officer of the animation studios, as well as principal creative advisor at Walt Disney Imagineering. -Jahan That part of the article is the part that intrigues me the most. Link to comment Share on other sites More sharing options...
cfc Posted January 25, 2006 Share Posted January 25, 2006 ^Indeed--Lasseter working with the Imagineers could be a very good thing. Link to comment Share on other sites More sharing options...
Angry_Gumball Posted January 25, 2006 Share Posted January 25, 2006 I so didn't see this topic when I posted mine. I feel dumb...lol Anyway, it seems like yesterday when Pixar let Disney go and wanted to be on their own. I actually have a friend who drives for Pixar so I'll probably find out more inf from him. Link to comment Share on other sites More sharing options...
smells_like_team_disney Posted January 25, 2006 Share Posted January 25, 2006 One of the questions surrounding the negotiations was what would happen to Pixar Executive Vice President John Lasseter, who has a track record of producing money-making movies. Lasseter will be the chief creative officer of the animation studios, as well as principal creative advisor at Walt Disney Imagineering. -Jahan Is it safe to say "let the second golden age at Disney Feature Animation begin" yet? Link to comment Share on other sites More sharing options...
DATman Posted January 25, 2006 Share Posted January 25, 2006 ^no, not with Bambi 2 coming out this year... Link to comment Share on other sites More sharing options...
PhishyBrewer Posted January 25, 2006 Share Posted January 25, 2006 HOLY CRAP! There goes Emeryville! Link to comment Share on other sites More sharing options...
cfc Posted January 25, 2006 Share Posted January 25, 2006 ^no, not with Bambi 2 coming out this year... Yeah, there will be some system purging, so to speak. "Bambi 2: Electric Boogaloo"? Link to comment Share on other sites More sharing options...
FlyingScooter Posted January 25, 2006 Share Posted January 25, 2006 And I thought Medal of Honor 12: Grenada was going to be Electric Boogaloo? (jk) I thought Pixar was already owned by Disney? Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now