More to come…the announcement is official: Disney is buying Pixar in an all-stock transaction worth $7.4 billion.
An investor conference call will take place at approximately 5:15 p.m. EST…go here for link.
Some major points of the deal:
– 2.3 Disney shares will be issued for each Pixar share. The transaction value is $7.4 billion
– Ed Catmull will be the president of the combined Pixar and Disney Animation Studios; John Lasseter named Chief Creative Officer
– Steve Jobs to join Disney’s board
– With the addition of Jobs, 11 of Disney’s 14 directors will be independent. Both Disney and Pixar animation units will retain their current operations and locations.
– Bob Iger’s take: “This investment significantly advances our strategic priorities, which include — first and foremost — delivering high-quality, compelling creative content to consumers, the application of new technology and global expansion to drive long-term shareholder value.”
For our full coverage of the deal, read our dedicated “Disney” section…
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