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Breaking News: Disney to acquire Pixar for $7.4B

post #1 of 28
Thread Starter 
The Walt Disney Co. said Tuesday it has agreed to buy longtime partner Pixar Animation Studios Inc. for $7.4 billion in a deal that could restore Disney's dominance in animation while vaulting Pixar CEO Steve Jobs into a powerful role at the media conglomerate.

Disney will buy the maker of the blockbuster films "Toy Story," "Finding Nemo," and "The Incredibles" in an all-stock transaction that makes Jobs Disney's largest shareholder, the Associated Press reports.

Jobs, who controls more than half of Pixar's stock and also heads Apple Computer Inc., will also join Disney's board.

Disney has co-financed and distributed Pixar's animated films for the past 12 years, with the two companies splitting the profits. However, that deal was set to expires in June after Pixar delivers its next feature animated film "Cars."

Disney and Pixar had been talking for months about a new relationship, with recent rumors suggesting Disney would offer a $7B bid for the Emeryville, Calif.-based animation studio.

Along with the acquisition, Pixar Executive Vice President John Lasseter will be become chief creative officer of Disney's animation studios and principal creative adviser at Walt Disney Imagineering, which designs and builds the company's theme parks.

Pixar President Ed Catmull will reportedly serve as president of the new combined Pixar and Disney animation studios, reporting to Disney chief executive Robert Iger and Dick Cook, chairman of The Walt Disney Studios.
post #2 of 28
Now if Steve wants AAPL to buy DIS, he has shares and leverage to help make it happen. AAPL has a larger market cap, so got to believe he could make it happen.

The problem of course is that other media companies would jump ship on iTunes and ViTunes. Even w/o buying, no doubt AAPL will have good access to content from the many DIS companies. And the preferred hookup will likely help DIS long term as well.
post #3 of 28
I guess we can move the last thread dealing with this over to here.

I suppose I should say it again; I hope this deal doesn't impact Apple negatively. If Jobs has to recuse himself every time they discuss music, Tv, or movie deals, as well as DRM, distribution, etc., this will not be good for Apple (or Disney).
post #4 of 28
Quote:
Originally posted by atavistic
Now if Steve wants AAPL to buy DIS, he has shares and leverage to help make it happen. AAPL has a larger market cap, so got to believe he could make it happen.

The problem of course is that other media companies would jump ship on iTunes and ViTunes. Even w/o buying, no doubt AAPL will have good access to content from the many DIS companies. And the preferred hookup will likely help DIS long term as well.

And why would Apple possibly want to do that?
post #5 of 28
Let's hope this brings to an end Disney's straight-to-video issues recently. I saw earlier today a Lion King box set that looked like there were 6 movies in it! I thought they'd only made 1!

Of course I expect that a lot of Disney content will now be made available through iTunes.

Also I think that Disney were HD-DVD backers - that could change to BluRay now. I might be wrong here though, haven't been following this too closely.
post #6 of 28
Quote:
Also I think that Disney were HD-DVD backers - that could change to BluRay now. I might be wrong here though, haven't been following this too closely. [/B]

Nope, Disney was backing BluRay.
post #7 of 28
Quote:
Originally posted by Hattig
Let's hope this brings to an end Disney's straight-to-video issues recently. I saw earlier today a Lion King box set that looked like there were 6 movies in it! I thought they'd only made 1!

Of course I expect that a lot of Disney content will now be made available through iTunes.

Also I think that Disney were HD-DVD backers - that could change to BluRay now. I might be wrong here though, haven't been following this too closely.

This won't affect Disney distribution.

Disney has been in the Blu-Ray camp, and is a vocal supporter.

Apple is on the board of the Blu-Ray group. But they are also on the board (or equivalent) of the HD DVD Group.
post #8 of 28
I for one welcome our new media overlords...

I know that Steve Jobs has kept Pixar and Apple pretty separate during his years of joint boss-ship of them both. They use Linux or Solaris servers for their render-farm the last I heard, not Xserves. So I don't expect seismic shifts for Apple besides of course a cosier time with Disney for content distribution.

Speaking of which ... good timing for a Home Media Centre Mac, no?

I had been hoping for a re-vamped Mini at MWSF like many, but I know it's coming soon enough. Give me my Apple Tivo! (That way I can run Azureus on it too, best of both worlds!)
post #9 of 28
You know, the one thing we haven't been told, is whether Jobs WILL take a seat at Disney. It's assumed that he will be offered one because of his stock, but that's not assured.

It's also possible, that because of his relationship to Apple, he might not be offered one (not too likely), or that he might not choose to take one, at least not now.

He might also choose to divest himself of most of Disney's stock over time.

There are a lot of things that can happen as a result of this.
post #10 of 28
Jobs has seat on board, Lasseter has been made Chief Creative Officer of the *combined* Animation Dept.

Pixar just took over Disney.

Amazing.
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post #11 of 28
John Lassetter has been named Chief Creative Officer for Disney Animation (the whole enchilada). Woot!
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post #12 of 28
Quote:
Originally posted by Kickaha
Jobs has seat on board, Lasseter has been made Chief Creative Officer of the *combined* Animation Dept.

Pixar just took over Disney.

Amazing.

...AND Lasseter is head of Imagineering for the parks! Yes!!!

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post #13 of 28
Quote:
Originally posted by atavistic
Now if Steve wants AAPL to buy DIS, he has shares and leverage to help make it happen. AAPL has a larger market cap, so got to believe he could make it happen.

The problem of course is that other media companies would jump ship on iTunes and ViTunes. Even w/o buying, no doubt AAPL will have good access to content from the many DIS companies. And the preferred hookup will likely help DIS long term as well.

Slow down turbo
post #14 of 28
Kids love Disney -> Disney loves Steve -> Steve loves Macs -> Disney embraces Apple tech gadgets -> my brother gets a third mortagage buying his 4 yearold the latest Disney fad
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post #15 of 28
Quote:
Originally posted by aplnub
Kids love Disney -> Disney loves Steve -> Steve loves Macs -> Disney embraces Apple tech gadgets -> my brother gets a third mortagage buying his 4 yearold the latest Disney fad

...and The Steve looked upon the newly born lamb which he named Disney-Pixar and said it was good, and lo, Bob Iger did toucheth the shoulders of The Steve and did mightily slap them. And The Steve turned to embrace Bob Iger and The Steve raised a fist to the heavens as if to smite the enemies of The Steve, the lamb, which is Disney-Pixar, and Bob Iger. And all was right and good with The Steve.

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post #16 of 28
Ooh, ooh! Mr. Kotter! Forgot to mention:

"In announcing their planned merger Tuesday, the two companies said Mr. Lasseter would be chief creative officer of the combined animation operations, while Pixar's president, Edwin E. Catmull, would become president."

Catmull is a bone fide genius...

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post #17 of 28
Catmull is a genius? What? Have you even heard of him prior to today?
post #18 of 28
Quote:
Originally posted by ShawnJ
Catmull is a genius? What? Have you even heard of him prior to today?

Why yes I have. Have you?

For the uninitiated, here's a link: http://en.wikipedia.org/wiki/Edwin_Catmull

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post #19 of 28
Quote:
Originally posted by SpamSandwich
For the uninitiated, here's a link: http://en.wikipedia.org/wiki/Edwin_Catmull

And, dude, could you shorten your sig? It's annoying.

Survey says...sig can stay! Mmm, being quoted is fun.

 

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post #20 of 28
Catmull is indeed a genius. His contribution to computer graphics is legendary.
post #21 of 28
Quote:
Originally posted by vinney57
Catmull is indeed a genius. His contribution to computer graphics is legendary.

I don't know if he's a genius, but he's done some pretty good things with Lasseter, first at Lucasfilm.

But it really is Lasseter who persuaded Lucasfilm to move the animation group in the direction it ended up going in.

If anything, he is considered to be Walt Disney's true successor.
post #22 of 28
Catmull is also responsible for some technology that your precious Photoshop depends on -- Catmull-Rom splines, aka "curves" for example. He makes a good president at Pixar because he isn't (just?) a business president, he's a technology president, knows this stuff first-hand.

That takes nothing away from Lasseter, who I also think is the golden boy of all this, but Catmull cannot be underestimated.
post #23 of 28
Quote:
Originally posted by BuonRotto
Catmull is also responsible for some technology that your precious Photoshop depends on -- Catmull-Rom splines, aka "curves" for example. He makes a good president at Pixar because he isn't (just?) a business president, he's a technology president, knows this stuff first-hand.

That takes nothing away from Lasseter, who I also think is the golden boy of all this, but Catmull cannot be underestimated.

Absolutely. Both men are living legends.

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post #24 of 28
Catmull did that work when Lucus owned the forerunner to PS, is that correct?
post #25 of 28
Quote:
Originally posted by melgross
You know, the one thing we haven't been told, is whether Jobs WILL take a seat at Disney. It's assumed that he will be offered one because of his stock, but that's not assured.

It's also possible, that because of his relationship to Apple, he might not be offered one (not too likely), or that he might not choose to take one, at least not now.

It is likely he will be offered (you don't NOT offer a board seat to someone that owns that much...6-14% depending on where you read...of your company. Period. That is enormous!) and he will take it (he'll want to keep an eye on where most of his wealth is tied up).

Quote:
Originally posted by melgross
He might also choose to divest himself of most of Disney's stock over time.

There are likely governors on his sale of the stock.
post #26 of 28
Quote:
Originally posted by Chris Cuilla
It is likely he will be offered (you don't NOT offer a board seat to someone that owns that much...6-14% depending on where you read...of your company. Period. That is enormous!) and he will take it (he'll want to keep an eye on where most of his wealth is tied up).



There are likely governors on his sale of the stock.

Well, at this point, we know that he has accepted.
He can sell his stock after 6 months or so. I forget the exact time.

It's just annoying because the market is reacting badly to this as regards to Apple.

The fact that he accepted the seat has gotten Apple investors nervous.

This just puts a tough ending to a difficult week for Apple's stock as it is.

I expected it to go down a bit after the conference call, because of the low guidance for the quarter. But then every tech stock except AMD reported poor earnings and sales for the quarter, also with low guidance! The stock dropped another 3 points those several days.

Then Iran threatens to cut oil supplies, because of the nuclear confrontation, and it drops another point or two.

Then it drops again because of the rumors of this deal. Drops when the deal is announced, and drops again when the interview with Jobs and Iger states that he will take a seat!

Well, the only thing good was that I bought more stock at $73.93 today.
post #27 of 28
Quote:
Originally posted by melgross
Well, at this point, we know that he has accepted.
He can sell his stock after 6 months or so. I forget the exact time.

Facts! Cool! Thanks.

Quote:
Originally posted by melgross
It's just annoying because the market is reacting badly to this as regards to Apple.

The fact that he accepted the seat has gotten Apple investors nervous.

This just puts a tough ending to a difficult week for Apple's stock as it is.

I think this more likely has to do with the ambiguous news about how well the new iMac is selling. Well, that and more profit-taking.
post #28 of 28
Quote:
Originally posted by Chris Cuilla
Facts! Cool! Thanks.



I think this more likely has to do with the ambiguous news about how well the new iMac is selling. Well, that and more profit-taking.

I don't know. The report from Thinksecret (which no investor cares about in the slightest) came out after most of the damage was done, and was quickly disagreed with by several analysts.

I don't think profit takers are active now. Over 80, I could see it in the numbers on my real-time account. But it stopped after the second day after the call.
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