Walt Disney in serious talks to acquire Pixar
The post-Eisner Walt Disney is close to buying Pixar Animation Studios in a deal that could allow Steve Jobs and his team to exert significant creative influence at the entertainment giant, reports The Wall Street Journal.
The two animation giants are reportedly in serious discussions (subscription required) after months of exploring ways to continue their lucrative partnership, people familiar with the matter told the publication.
According to the report, Disney would pay a nominal premium to Pixar's current market value of $6.7 billion, in a stock transaction that would make Jobs, the Pixar chairman and chief executive, the largest individual shareholder in Disney.
"That would vault Jobs into an even more influential place in the media world, where he already holds tremendous sway as head of Apple Computer," the Journal wrote. "The talks are said to be at a sensitive stage and the outcome isn't certain."
The two companies have been partners for more than twelve years under an arrangement in which Disney has distributed and co-financed popular and profitable Pixar movies such as "Toy Story," "Finding Nemo" and "The Incredibles."
The Journal speculates that an acquisition would give Pixar and Jobs a way to cash in on the company's unbroken run of blockbuster, computer-animated films.
According to the report, Jobs would likely join the Disney board, and Pixar's John Lasseter, the Disney alumnus who directed "Toy Story" and the upcoming "Cars," would take on an expanded role overseeing Disney animated movies.
The two animation giants are reportedly in serious discussions (subscription required) after months of exploring ways to continue their lucrative partnership, people familiar with the matter told the publication.
According to the report, Disney would pay a nominal premium to Pixar's current market value of $6.7 billion, in a stock transaction that would make Jobs, the Pixar chairman and chief executive, the largest individual shareholder in Disney.
"That would vault Jobs into an even more influential place in the media world, where he already holds tremendous sway as head of Apple Computer," the Journal wrote. "The talks are said to be at a sensitive stage and the outcome isn't certain."
The two companies have been partners for more than twelve years under an arrangement in which Disney has distributed and co-financed popular and profitable Pixar movies such as "Toy Story," "Finding Nemo" and "The Incredibles."
The Journal speculates that an acquisition would give Pixar and Jobs a way to cash in on the company's unbroken run of blockbuster, computer-animated films.
According to the report, Jobs would likely join the Disney board, and Pixar's John Lasseter, the Disney alumnus who directed "Toy Story" and the upcoming "Cars," would take on an expanded role overseeing Disney animated movies.
Comments
Originally posted by fahlman
Wow - Steve Jobs being the largest single shareholder of Disney stock. Steve must wake up and smile at himself in the mirror every morning.
As NeXT did to Apple, Pixar will do to Disney.
Now, what will be Disney's equivalent of the iMac seeing as the Jobs revolution is set to begin?
Jobs would be perfect as the king of Disney. Talk about a "halo" effect!
Hmm... now about the new name...
How does Disnappixar sound? No? How 'bout Appisneypix?
To be blunt, we at NeXT had a much greater need to be purchased than those at PIXAR.
PIXAR has a long list of projects after CARS.
This is speculation at its worst. DISNEY needs a golden parachute in technology and artistic talents to drive its revenue base that is waning.
Steve owns 50.6% of the public stock. He's in charge. At NeXT he was a minority owner and had outstanding debt to CANON and Perot Systems to name but two.
The best Disney can hope for is that PIXAR offers a new partnership.
Bleh.
Apple on Intel, video iPods... all bets are off
(And I don't like Disney either. Talk about sickeningly commercial AND and irresponsible corporate citizen AND directed towards kids--what a lovely combination.)
Originally posted by SpamSandwich
What did I tell ya...?
Jobs would be perfect as the king of Disney. Talk about a "halo" effect!
Hmm... now about the new name...
How does Disnappixar sound? No? How 'bout Appisneypix?
NOPE!! IT'S THE WONDERFUL WORLD OF STEVE!
or, STEVE JOBS WORLD!!!
Originally posted by ricksbrain
I like Pixar as a standalone. Ultimately, it'll get smeared with Disney's sweet-as-molasses history, including the corporate structure.
Not to mention smeared with their labour practices. I think Pixar is better off on their own. Sure they can benefit from Disney's worldwide distribution and marketing, but they can build that themselves over time. And with a better reputation based on actual creativity and quality new movies rather than a name brand and history. Disney is where talented artists go to die these days. They need Pixar more than Pixar needs them.
Originally posted by Louzer
Keep in mind that just being the largest single shareholder doesn't mean Jobs would be running Disney. He took over Apple because Apple needed him. As opposed to Apple, he doesn't do much with Pixar (you never hear of his overbearing nature and his driving force behind projects, he has talented people who do that work), so he's not bringing a lot to the disney table. Plus, I don't think they'd put up with his BS as much as Apple people do.
Yeah. I read the article this morning. Other than the fact that the WSJ is pretty accurate about these kinds of things, I'd continue to be skeptical about it.
Points against it is that Jobs doesn't need the money, and doesn't seem to care. It's his baby, and if he's a board member, he will have headaches he doesn't need.
As for him becoming chairman. Bad idea.
Pixar is run by one of the founders - Lassiter. Jobs doesn't have to be hands on.
Apple is a much more complex company, and Jobs, as we all know, is very hands on. It's a full time job.
Disney is far more complicated than Apple is, and doesn't have the kind of structure that would allow a Jobs to function the way he does at Apple. That's one of the reasons Eisner is gone. He was too much of an imperial individual.
Think Jobs fits that description?
Can you see him at one of those interminable meetings deciding which doll should go on the shelf next month?
Neither do I!
p.s.. Sorry, Louzer, I got carried away. I started out simply agreeing with you, and couldn't stop typing before I have to leave.
Originally posted by melgross
Pixar is run by one of the founders - Lassiter. Jobs doesn't have to be hands on.
Apple is a much more complex company, and Jobs, as we all know, is very hands on. It's a full time job.
I remember a couple of years ago, someone -- I don't remember who -- asked Jobs about how much time he spends at his two companies. He said that, aside from time with family, his time is split pretty evenly between Pixar and Apple.
Now, that may have changed since the iPod exploded everywhere and Apple is a well-known name again.
Starting companies, creating jobs, bringing unwieldy talented people together and focusing their efforts is what Steve does best. He did it at Apple, NeXT, Pixar and he should keep doing it!
On the other hand, maybe that idiot, Gil Amelio, had it right in that silly book he wrote after being booted from Apple: Steve may eventually become CEO of Disney.
Like some of you, I prefer Pixar as a standalone.
Several years ago there was a spread in Time (or Newsweek) about Jobs influence at Pixar - might've been around the time of Toy Story 2. The article covered his lengthy and contentious meetings with Disney over movie release dates and theatres, and over the kind and distribution of tie-in products (like dolls!). If I remember correctly, he supposedly insisted on a different premiere date near Thanksgiving or something like that. Jobs is a marketing master and he does that very well for Pixar.
It's possible that Jobs does want to hand that off so he can focus more on Apple, and that he wants to give Lasseter and other Pixar folks the best possible outcome for their careers. Which might mean allowing them to spread their leadership and talents over more projects/films ... at Disney.
Originally posted by baygbm
On the other hand, maybe that idiot, Gil Amelio
If it weren't for Amelio, there would be no OS X. The decision to buy NeXT was made by Amelio...
Disney (animation studios) knows that it has lost it's touch and is just rehashing old classics and theme park attractions as movies and knows Pixar has true talent for animated movies and story and want Pixar to bring them back.
Originally posted by baygbm
Pixar would save Disney?s animation efforts, and having Jobs on the Disney board might be fun, but if this sale goes through, I?d like to see Jobs on the Disney board in name only. Steve should keep running Apple and (drum roll please....) he should start another company!
Starting companies, creating jobs, bringing unwieldy talented people together and focusing their efforts is what Steve does best. He did it at Apple, NeXT, Pixar and he should keep doing it!
On the other hand, maybe that idiot, Gil Amelio, had it right in that silly book he wrote after being booted from Apple: Steve may eventually become CEO of Disney.
Like some of you, I prefer Pixar as a standalone.
Wasn't there rumor of Steve Jobs and Steven Spielberg starting a new animation studio together? Both walking away from their own, or at least Steven walking away from the Dreamworks Animation side of it....
Originally posted by Feynman
Wasn't there rumor of Steve Jobs and Steven Spielberg starting a new animation studio together? Both walking away from their own, or at least Steven walking away from the Dreamworks Animation side of it....
I'll admit I had not heard this rumor.
this obviously means that steve has more say in what disney will do. dont you see?
this is surely the start of movie on itunes. they already have pixar short films. its only untill we can get enough broadband speeds to download a dvd's worth of content that we will see the first movies coming to itunes. or perhaps it wont be a dvd's worth. maybe just the film to start with. and extra features being at an extra cost.
whatever the pricing, the first movies on itunes will surely now be disney/pixar movies.