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Corporate Mergers: Disney & Pixar
Topic Started: Jan 24 2006, 08:07 PM (281 Views)
George K
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Finally
Disney buys Pixar. New name to be Dixar. Say it out loud...

http://abcnews.go.com/Business/story?id=15...&page=1&ad=true

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: the old world of films and the new.

Pixar CEO Steve Jobs will become Disney's largest shareholder, which gives 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 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 the 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-Pixar films have generated more than $3 billion, and include hits like the "Toy Story" series and "The Incredibles." The company hopes that purchasing Pixar will again make Disney the dominant player in the animation field.

The partnership between the two companies had deteriorated in recent years when Jobs openly feuded with longtime Disney CEO Michael Eisner. Robert Iger, who succeeded 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."

In an interview with ABC News after the announcement, Jobs acknowledged Iger's role in making the agreement happen.

"What this is really about is buying into Bob Iger's vision of where Disney is going," Jobs said. "I couldn't have imagined this happening a year or two ago."

Though Jobs developed a reputation as a strong-willed leader during his time at the head of both Apple in Pixar, he said his role on Disney's board will be to support the CEO.


.

"Though Jobs developed a reputation as a strong-willed leader" gets the award for the understatement of the new millenium.
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Jack Frost
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Jobs is a genius. This is very very good news for Disney.

jf

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George K
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Agreed, Jobs is a genius. Very difficult to work with/for, from what I've read. Such a perfectionist. The Disney-Pixar deal has been a sore spot with Jobs for years. Pixar does all the creative work, the animation, etc. Disney gets to distribute and gets a significant share of the profits. Jobs will be the largest shareholder of Disney (as well as probably the largest ego).

(disclaimer: I and my family have many Macintosh computers. I love them all. Apple is a visionary company, led by a visionary).
A guide to GKSR: Click

"Now look here, you Baltic gas passer... "
- Mik, 6/14/08


Nothing is as effective as homeopathy.

I'd rather listen to an hour of Abba than an hour of The Beatles.
- Klaus, 4/29/18
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Nina
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Plus Michel Eisner is such a tool.

I imagine that was what Jobs meant when he said he couldn't even imagine doing this a few years ago.
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George K
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Nina
Jan 25 2006, 12:09 AM
Michel Eisner is such a tool.

Michel Eisner was such a tool.
A guide to GKSR: Click

"Now look here, you Baltic gas passer... "
- Mik, 6/14/08


Nothing is as effective as homeopathy.

I'd rather listen to an hour of Abba than an hour of The Beatles.
- Klaus, 4/29/18
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John D'Oh
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MAMIL
George K
Jan 25 2006, 07:01 AM
Nina
Jan 25 2006, 12:09 AM
Michel Eisner is such a tool.

Michel Eisner was such a tool.

He still is, he's just an unemployed tool.
What do you mean "we", have you got a mouse in your pocket?
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Nina
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What John said. Toolicity is, I believe, a life-long affliction.
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George K
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Finally
Nina
Jan 25 2006, 09:49 AM
Toolicity is, I believe, a life-long affliction.

Actually, Nina, it's toolosis. I should know...

But in a larger sense, you're right. He did that company no good. It's like he was a negative visionary while he was there. Other than the Pixar films (over which Disney had no creative control), nothing good came out of that studio for years.
A guide to GKSR: Click

"Now look here, you Baltic gas passer... "
- Mik, 6/14/08


Nothing is as effective as homeopathy.

I'd rather listen to an hour of Abba than an hour of The Beatles.
- Klaus, 4/29/18
Online Profile Quote Post Goto Top
 
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