CNN Breaking News...Disney/Pixar

[Miss Jasmine]

The Walt Disney Co. says it is buying longtime partner Pixar Animation Studios Inc. for $7.4 billion.

 

[RyMickey]

Well, I'm excited about this. John Lasseter is staying on as creative head of the new Disney-PIXAR animation division and he will also be taking on a lead role in Disney Imagineering -- I can't wait to see the rides that Lasseter dreams up.

 

[Miss Jasmine]

From Reuters:
LOS ANGELES (Reuters) - The Walt Disney Co has agreed to acquire Pixar Animation Studios in an all-stock transaction worth $7.4 billion expected to be completed by this summer, Disney said on Tuesday.

Pixar Chief Executive Steve Jobs will join Disney's board of directors. Under the agreement, 2.3 Disney shares will be issued for each Pixar share.

Pixar President Ed Catmull will serve as president of the combined Pixar and Disney animation studios, Disney said. Pixar Executive Vice President John Lasseter will be chief creative officer of the animation studios.

 

[CathrynRose]

I really really hope they dont mess it up like they did with their own Animation Studio....

Im happy though!

 

[Cindy's Mom]

DD5 will be thrilled her 1 share of Disney is up 47 cents....woooohooo

 

[Miss Jasmine]

From CNNmoney.com:
NEW YORK (CNNMoney.com) - Walt Disney has announced that it is buying Pixar, the animated studio led by Apple head Steve Jobs, in a deal worth $7.4 billion.

Speculation about a deal being imminent raged on Wall Street for the past few weeks. Disney has released all of Pixar's films so far but their current distribution deal was set to expire following the release of this summer's "Cars."

"Disney and Pixar can now collaborate without the barriers that come from two different companies with two different sets of shareholders," said Jobs. "Now, everyone can focus on what is most important, creating innovative stories, characters and films that delight millions of people around the world."

As part of the deal, Jobs will become a board member of Disney, the companies said. And John Lasseter, the widely respected creative director at Pixar who had previously worked for Disney, will rejoin the House of Mouse as chief creative officer for the company's combined animated studios and will also help oversee the design for new attractions at Disney theme parks.

"The addition of Pixar significantly enhances Disney animation, which is a critical creative engine for driving growth across our businesses," said Disney CEO Robert Iger in a written statement