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Wednesday, January 25, 2006

Disney to Acquire Pixar

Well if this is news then you haven't been paying attention. Its all over the place. At 7.4 b b b billiioooonnnn dollars its hard not to make a news item of it. I like the one comment from Slashdot, " So, dear Slashdot, does this mean that Disney's movies will improve, or that Pixar's will become worse?" ;) With John Lasseter as Disney's Chief Creative Officer they just might have a chance... From the press release:
Furthering its strategy of delivering outstanding creative content, Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company (NYSE: DIS), announced today that Disney has agreed to acquire computer animation leader Pixar (NASDAQ: PIXR) in an all-stock transaction, expected to be completed by this summer. Under terms of the agreement, 2.3 Disney shares will be issued for each Pixar share. Based on Pixar's fully diluted shares outstanding, the transaction value is $7.4 billion ($6.3 billion net of Pixar's cash of just over $1 billion).
Not a bad 10mil investment for Steven Jobs from George Lucas 20 years ago. Apparently this makes Jobs the biggest single shareholder in Disney. Get ready for iDisney...

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