Disney now owns the Marvel universe

Jan. 01, 2010 | 8:18 p.m.

From the AP out of New York:

Marvel universe

Walt Disney Co. completed its $4.24-billion acquisition of Marvel Entertainment Inc. on Thursday, bringing Spider-Man, Iron Man and 5,000 other characters under the same roof as Mickey Mouse and Donald Duck. Marvel shareholders approved the acquisition Thursday morning as expected.

Marvel Chief Executive Isaac “Ike” Perlmutter, who owned 37% of Marvel stock, supported it. He will oversee the Marvel business and report to Disney CEO Robert Iger. Iger said the deal can help Disney grow revenue and profit, saying in a statement, “The creative and business potential of this combination is substantial.”

Mickey Mouse in 1930s Marvel shareholders received $30 per share in cash, plus 0.7452 of a Disney share for every Marvel share they owned. Disney shares closed Thursday at $32.25.

That valued Marvel shares at $54.03 each, and put the purchase price at $4.24 billion. The deal is Disney’s largest since it bought Pixar Animation Studios Inc., the maker of “Up” and “Cars,” for $7.4 billion in stock in 2006.

Separately, Pow Entertainment Inc., a company led by Spider-Man co-creator Stan Lee, said it expanded a three-year relationship with Disney by giving Disney greater rights to its creative output and exclusive consulting services.

Disney, based in Burbank, will take a 10% stake in Pow for $2.5 million, it said. Walt Disney Studios’ president of worldwide distribution, Bob Chapek, said it made sense to extend the relationship with the company partly because of Lee’s “knowledge and familiarity of the Marvel Universe.”

– Associated Press

RECENT AND RELATED

Toy Story 3 poster

John Lasseter talks about the back story of “Toy Story 3″

Why is Stan Lee signing Jack Kirby’s artwork?

Mickey Mouse mutants? Reaction to the Disney-Marvel deal

Michael Keaton will be boy-toy Ken in “Toy Story 3″

50 years later: “Sleeping Beauty” star dazzles D23 audience

VIDEO: Dick Jones, the voice of “Pinocchio,” looks back 

A Tinker Bell movie for boys? Disney hopes so

‘Lost’ Mickey Mouse cartoon unearthed

Matt Faction will take over “Thor” in 2010

Marvel is on a mission in Hollywood

Hammer time: Chris Hemsworth ready for “Thor”

Images: The heroes and villains of Marvel (credit: Marvel Comics) and Mickey Mouse in the 1930s (Walt Disney Co.).

Comments


2 Responses to Disney now owns the Marvel universe

  1. ray says:

    I still love the Marvels!

  2. […] characters and mash them up with other Disney properties. Get used to it: Disney didn’t spend $9 billion on Marvel to leave the powerful brands alone on their own corporate […]

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title="" rel=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <pre> <q cite=""> <strike> <strong>

Close
E-mail It
Powered by ShareThis