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  1. #1
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    Exclamation Disney to buy Pixar

    From Scifiwire

    Walt Disney Co. is in serious discussions to buy Pixar Animation Studios, producer of hit films such as The Incredibles, after months in which the two animation giants have been exploring ways to continue their lucrative partnership, the Wall Street Journal reported.

    In the deal under discussion, Disney would pay a nominal premium to Pixar's current market value of $6.7 billion in a stock transaction that would make Pixar chairman and chief executive officer Steve Jobs the largest individual shareholder in Disney, people familiar with the situation told the newspaper.

    People familiar with the situation cautioned the Journal that the talks are at a sensitive stage and that the outcome isn't certain, noting that other options are possible.

    Disney and Pixar have been partners for more than a dozen years under an arrangement in which Disney has distributed and co-financed popular and profitable Pixar movies such as Toy Story and Finding Nemo. Two years ago, however, Jobs abruptly said he would end the relationship when it expires later this year and seek a new distribution partner, amid acrimony with then-Disney chief executive officer Michael Eisner.

    Disney chief executive officer Robert Iger, who took over last October, has made it a priority to get the companies' relationship back on track. Talks have gained momentum in recent months and a resolution could come soon.
    Our greatest accomplishments cannot be behind us, because our destiny lies above us. - Matthew Mcconaughey - Interstellar

  2. #2
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    lol, another one of these, let me tell you, these entertainment companies are ran by the biggest **** ups in the corporate world. Wouldn't be surprised if a year from now you'll see disney to sell pixar.

  3. #3
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    Exclamation

    From Yahoo!

    The board of Walt Disney Co. has authorized Chief Executive Robert Iger to make an offer to buy Pixar Animation Studios Inc., and that is expected by Tuesday, a source familiar with the matter said late on Monday.

    Pixar's board is expected to consider the offer on Tuesday as well, said the source, who did not disclose financial terms.

    The Pixar board was expected to confer by telephone, the source said.

    In the event a decision is reached, an announcement by Disney would be expected after the market closes, the source said.

    Pixar shares closed at $58.27 on Monday on Nasdaq, putting its market value at just under $7 billion. The shares have risen about 12 percent in the last month, partly on speculation that Disney would buy the computer animation company that created such hits as "Toy Story," "Finding Nemo" and "The Incredibles."

    Shares of Disney were up nearly 2 percent, or 48 cents, at $26.01 in morning trade on the New York Stock Exchange. Pixar shares were down 8 cents at $58.19 on Nasdaq.

    The Wall Street Journal has reported that Disney is considering an all-stock offer, which would make Pixar Chief Executive Steve Jobs the company's largest individual shareholder.

    The Journal reported late on Monday that the offer under consideration would give Jobs, who has a controlling stake in Pixar, a seat on the Disney board.

    Disney, for decades the world leader in hand-drawn animated films such as "Pinocchio" and "Lion King," has struggled in recent years to maintain its position in an industry that has embraced computer-generated films.

    Although Disney has not produced a blockbuster animated film on its own in years, the six films Pixar and Disney made since the 1995 release of "Toy Story" have grossed more than $3.2 billion.

    Jobs had feuded publicly with Iger's predecessor, Michael Eisner, and broke off negotiations for a new distribution agreement with Disney about two years ago.

    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," when takeover rumors surfaced.

    Jobs, who is also chief executive of Apple Computer Inc., has already led a revolution in digital delivery of content by providing legal downloads of music through Apple's iTunes Music Store and by striking a deal with Iger and Disney to offer video downloads of ABC television shows.

    A deal that would give Jobs a Disney board seat could also put him in a position to lead Hollywood's move onto the Web...

  4. #4
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    Lightbulb

    From Yahoo!

    Disney to Acquire Pixar for $7.4 Billion

    The Walt Disney Co. 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.

    Disney has co-financed and distributed Pixar's animated films for the past 12 years, splitting the profits. But that deal expires in June after Pixar delivers "Cars."

    Disney and Pixar have been talking for months about a new relationship.

    Pixar Executive Vice President John Lasseter will be become chief creative officer of the animation studios and principal creative adviser at Walt Disney Imagineering, which designs and builds the company's theme parks.

    Pixar President Ed Catmull will serve as president of the new combined Pixar and Disney animation studios, reporting to Disney chief executive Robert Iger and Dick Cook, chairman of The Walt Disney Studios.
    Sounds like this may be one of those rare mergers that is actually good for the subordinate company. What do ya'll think?

  5. #5
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    Cool Pixar Shareholders approve Disney buyout

    I was paticularly struck by a quote at the end which I made "bold"

    From Yahoo!

    Shareholders of Pixar Animation Studios Inc. Friday voted to approve the company's acquisition by The Walt Disney Co. for $7.4 billion in stock.

    The vote makes Pixar a wholly owned subsidiary of Disney and makes Pixar Chief Executive Steve Jobs Disney's single largest shareholder with about a 7 percent stake.

    The deal is squarely aimed at restoring Disney's luster as a leader in the animated film business. Disney's own efforts have faltered over the past 10 years while Pixar's films have been huge successes.

    Jobs, who will be named to Disney's board, had already said he would cast his Pixar shares, which represents 40 percent of the company's outstanding stock, in favor of the merger. Shareholders met briefly in San Francisco Friday to ratify the deal.

    After the vote, Disney filed a registration statement for the stock it will use to finance the deal. Under the plan, Pixar shareholders will exchange each of their shares for 2.3 shares of Disney stock.

    The acquisition was expected to close later Friday.

    The deal comes just a month before the partnership between the two companies was set to expire.

    Disney agreed to finance the first computer-animated feature film, "Toy Story," in 1991. The film was released in 1995, the same year Pixar became a public company.

    The relationship between the two companies has produced a string of box-office hits, including the films "Finding Nemo" and "The Incredibles." The seventh and last film under the old distribution agreement, "Cars," will be released June 9.

    Talks to extend the agreement began two years ago, but faltered in large part because of personal animosity between Jobs and former Disney CEO Michael Eisner. Talks resumed after Robert Iger was named to succeed Eisner as CEO last year.

    Those talks graduated to discussions about an acquisition after Iger saw research that showed mothers with children under the age of 12 rated the Pixar brand ahead of Disney.

    Iger told analysts in February that he became convinced Disney should buy Pixar after presiding over the opening of Hong Kong Disneyland last September.

    "I was at the opening of Hong Kong Disneyland and standing with a few thousand other people watching the parade go by and I realized that there wasn't a character in the parade that had come from a Disney animated film in the last 10 years except for Pixar," Iger said.

    "It really hit me hard that we had had 10 years of real failure in many respects in the business that I believe was the most vital to us."

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