Disney acquires Pixar for $7.4 billion
It is now confirmed that entertainment giants Disney are acquiring Pixar for a reported price of $7.4 billion. Disney has seen their recent animated movies performing badly at the box office and they need the creative assets of Pixar to get back to dominating position in the market. The other big news in this deal is that Steve Jobs would be joining the board of Disney.
The deal would see Disney paying a premium price of $59.78 a share for Pixar. Disney would now have Steve Jobs to guide them and would be hoping for a similar magic Apple has seen since appointing him back at the top. Steve Jobs has made Apple one of the leading forces in the tech industry in the United States with astonishing products like the Apple iPod, Apple iTunes and the Apple Mac Mini.
Pixar President Ed Catmull would now become the president of the combined Pixar and Disney animation studios. He would now be reporting to Iger and Disney film Chief Dick Cook. Pixar Executive Vice President John Lasseter would become the Chief Operating Officer of this animation movie studio. He would also be leading the team, which designs the theme parks for Disney.