RSSDisney Board Approves Pixar Buyout
By the Betanews Staff | Published January 24, 2006, 12:26 PM
Disney's board late Monday cleared the way for CEO Robert Iger to complete a proposed acquisition of Pixar for $7.4 billion in stock. The deal makes Steve Jobs the single largest individual Disney shareholder and gives the Apple CEO a company board seat. Pixar animation guru John Lasseter will become Chief Creative Officer.
Rumors of a potential buyout surfaced last week after months of discussions between the two companies that started with renegotiating Disney's contract to distribute Pixar's films. Disney has been struggling to find success at the box office while Pixar continues to break records with each new animated feature.
What does Steve Jobs have to do with this? Does he have a lot of money invested in Pixar or something?
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|I'm pretty sure Steve Jobs owns Pixar.
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|Steve put ~$10M into forming pixar in or around 1986.
He's gonna get about $3.5B out of this deal.
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|I knew Steve Jobs ran a Mickey Mouse organization...
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|Haha! Nice one.
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|Woah Woah Woah. Why are you guys hating on Disney? Their partnership with Pixar point out some great movies, including Toy Story, Finding Nemo, and A Bugs Life. Since the breakup, Disney has also put out Chicken Little and The Incredibles. So I would definitely have to disagree with your dislikes for Disney animated films.
Now, I would say that I dislike the movie because it makes Steve Jobs the most powerful man at Disney :P.
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|"Their partnership with Pixar...."
Was good for distribution only. It had nothing to do with the creativity that was Pixar. Now that is threatened.
Yeah, some of us are not happy with that.
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|Pixar was not involved with Chicken Little. The Incredibles was the last film they did jointly.
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|...yeah, what he said...
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|Didn't Pixar do the animation for those movies?
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|G...
Uh, yeah. Disney did the distribution. Clear that up for ya?
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|Disney has driven their enterprise into the ground over the last several years. Several employees have told me so personally. Hopefully with the new CEO and now this, things will start to get better there.
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|Always the optimist, aren't ya.
I bet you're a morning person, too.
*shudders*
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|I don't know why, exactly...but I dislike this news to a very great degree.
Just thought I'd let ya'll know that.
Carry on...
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|Me too...Pixar will no longer release good movies I'm afraid, and now all the Pixar films will involve a brat or brats that lie and rebel against his or her parents and gets rewarded for doing so at the end.
Remember I'm not Hilary mind you--I'm not saying that Disney needs locked up or needs to be forced to only make ethical films, but the same frikin' story about kids outsmarting parents and then everyone living happily ever after is getting quite old.
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|Can't wait until a "caillou" movie comes out.
I might actually have to burn down a theater or two. Why don't they just call it what it is, "Whiney kid gets spoiled...again."
Hate is too soft a word for my feelings regarding that particular abhoration. (Yeah, I know...it's not Disney, but their getting there.)
"Remember I'm not Hilary"
Wow. Thanks for clearing that up...*that* would have been embarrassing.
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|huh? That made absolutely no sense, whatsoever.
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