Menu
Three Breast Woman Jasmine Tridevil is a Hoax

Three Breast Woman Jasmine Tridevil is a Hoax

iPhone 6 Plus Has Not the Best Smartphone Screen

iPhone 6 Plus Has Not the Best Smartphone Screen

Amber Heard Topless Photo Leaked

Amber Heard Topless Photo Leaked

Kim Kardashian Leaked Photos Backlash

Kim Kardashian Leaked Photos Backlash

Stephanie Beaudoin Dubbed Worlds Hottest Criminal

Stephanie Beaudoin Dubbed Worlds Hottest Criminal

Maker Studios Approves Disney Bid, Rejects Relativity Media offer

Apr 15 2014, 3:05am CDT | by , in News | Technology News

Maker Studios Approves Disney Bid, Rejects Relativity Media offer
 
 

YouTube Videos Comments

Full Story

Maker Studios Approves Disney Bid, Rejects Relativity Media offer

Disney announced last March that it will acquire Maker Studios, the popular online video content creator on YouTube. Disney is willing to spend $500 million in cash and an additional $450 million in additional stock, provided that performance targets are met.

But a last-minute bid by Relativity Media threatened Disney's bid. Relativity Media, a rising film-studio founded by Ryan Kavanaugh, was willing to pay more - a bid worth $1.1 billion. Relativity offered $525 million in stock and cash, plus a $500 million earn-out and an additional $75 million bonus to key executives.

“Relativity has sent to the board of Maker Studios a letter of intent detailing an offer to buy the company that we believe is superior to the current offer from Walt Disney,” a company spokesman said.“Relativity's proposal fully values Maker Studios while providing its shareholders far more upside potential for growth than the Disney offer.”

In spite of the higher offer, Maker Studios rejected Relativity Media's eleventh-hour bid. According to Maker Studios, the majority of its shareholders have already  approved Disney's offer.

“As per the announcement made on March 24, Maker Studios has entered into a merger agreement with The Walt Disney Co.,” a spokeswoman for Maker Studios said. “The agreement has been approved by Maker Studios’ board of directors and the majority of its shareholders and is expected to close in the next few weeks, subject to regulatory approval.”

 

You Might Also Like

Updates


Sponsored Update


Advertisement


More From the Web

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/21" rel="author">Gene Ryan Briones</a>
Gene Ryan Briones (Google+) is a technology journalist with a wide experience in writing about the latest trends in the technology industry, ranging from mobile technology, gadgets and robots, as well as computer hardware and software.

 

 

Comments

blog comments powered by Disqus

Latest stories

Stephen Smith Applauded The Illegal Hit On Nick Foles
Stephen Smith Applauded The Illegal Hit On Nick Foles
Stephen A. Smith claimed that Foles “got what he deserved” after he was taken down by an illegal hit.
 
 
Jack Ma is Richest Chinese
Jack Ma is Richest Chinese
Jack Ma leads the list of Richest Chinese after Alibaba IPO.
 
 
Kylie Minogue to leave vacancy for Rita Ora on The Voice
Kylie Minogue to leave vacancy for Rita Ora on The Voice
Kylie Minogue is to leave a vacancy on The Voice for Rita Ora.
 
 
Lucy Lawless brings Xena Power to S.H.I.E.L.D.
Lucy Lawless brings Xena Power to S.H.I.E.L.D.
Xena actress Lucy Lawless joins the new season of S.H.I.E.L.D.
 
 
 

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.