Disney Moves for Pixar
By Ryan Parsons | Image from Pixar
A few days ago we did a report on how Disney Still Wants Pixar. It has now become apparent that Disney REALLY wants Pixar. After receiving a ton of emails giving us alerts that Disney had bought Pixar, we figured we might as well investigate the matter ourselves.
The Pixar Team
Disney Sends Offer to Pixar
According to various reports flying all over the web (reports we are expecting to see increase ten fold by tomorrow morning), Disney has finally decided on a price for Pixar. The animation studio's stock closed at $58.27 this Monday bringing the total market value of the company up to $6.93 billion; after hours reports show a drop in share value down to $58.10.
As our initial report suggested, Disney is willing to buy Pixar at a bit of a premium and has offered the animation studio $7 billion.
As of right now the $7 billion dollar offer is the only thing for certain; other details are still on the table.
If Pixar was to accept this offer Pixar CEO Steve Jobs would land himself a seat on Disney's board. And, just as previous reports also suggested, Steve Jobs would become the largest shareholder of Disney with just under 7% of the company's stock.
When a split between Disney and Pixar looked imminent back in 2004 both studios had to come to terms. First, Pixar would not be able to count on Disney to cut the costs on film production and distribution. However, more importantly, Disney had to realize that their ability to make quality animated films had greatly diminished. Most have come to know Disney for their heinous straight-to-video sequels and were confirmed with the studio's inability to produce a solid animation with the CG bomb Valiant. Cars would have been the last picture from the Disney-Pixar relationship unless arrangements were made on sequels from previous films created between the two picture houses or if the two studios kissed and made up.
Fortunately, the exit of Michael Eisner from Disney allowed Bob Iger to step in and ease relationtions between Disney and Pixar (Steve Jobs). The new discussions have obviously led up to the decision by Disney to combine with Pixar once and for all.
An official announcement from Pixar is expected by tomorrow, Tuesday the 23rd.
Stay tuned for updates.
Sources: Image from Pixar
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