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Topic: Disney might buy Pixar?
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Mike Blakesley
Film God
Posts: 12767
From: Forsyth, Montana
Registered: Jun 99
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posted 12-17-2005 12:50 AM
From the Dec. 15 Studio News at Internet Movie Database :
Will Disney Buy Pixar?
Despite the expressed hopes that Disney CEO Robert Iger and Pixar Chairman Steve Jobs would reach an agreement before the end of the year, talks are dragging on longer than expected, and a deal may not be forthcoming until next year -- if one materializes at all, the Wall Street Journal reported today (Thursday), citing people familiar with the talks. Besides discussing what fees and/or percentages Disney ought to pay Pixar for distributing its movies, the two sides are also discussing the possibility of Disney buying Pixar outright and, in effect making it Disney's animated division, the Journal said. Credit Suisse First Boston analyst William Drewry, who favors such a plan, said that under it, Jobs could become a member of the Disney board and a significant shareholder. But Kevin Landis, chief investment officer at Firsthand Funds in San Jose, CA, warned that "in buying [Pixar], there's the risk you destroy what makes it special." Other analysts also pointed out that Pixar shares are up 28 percent this year and that the company's market value may be prohibitively high for Disney.
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Rick Hunter
Master Film Handler
Posts: 452
From: Melbourne, Australia
Registered: Feb 2003
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posted 01-25-2006 05:04 AM
It has happened!
quote:
Disney to buy Pixar in $9.9 billion deal
The Walt Disney Company has agreed to acquire Pixar Animation Studios in a $9.9 billion all-stock transaction that brings the leader in computer animation under the banner of the world's most famous name in cartoons.
Under the agreement, expected to close this summer, Pixar chief executive Steve Jobs will join Disney's board of directors.
"The price tag is a little more than people were expecting," McAlpine Associates analyst Dennis McAlpine said.
Disney locked up the creative talents of Pixar by installing Pixar's president and co-founder, Ed Catmull, as president of the combined Pixar and Disney animation studios, and Pixar's creative director John Lasseter as chief creative officer of the combined animation studios.
Mr Lasseter will also become the principal creative director of the Walt Disney Imagineering group, which designs theme park attractions.
Both boards of directors have approved the deal, which calls for 2.3 Disney shares to be issued for each Pixar share.
"The addition of Pixar significantly enhances Disney animation, which is a critical creative engine for driving growth across our businesses," Disney chief executive Robert Iger said in a statement announcing the deal.
- Reuters
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