Official: Disney Buys Pixar for $7.4 Billion - Steve Jobs Joins Disney's Board

Disney officially announced the purchase of Pixar Animation Studios. We reported about the acquisition plans on Sunday.

In an all-stock transaction, expected to be completed by this summer, 2.3 Disney shares will be issued for each Pixar share. Based on Pixar's fully diluted shares outstanding, the transaction value is $7.4 billion ($6.3 billion net of Pixar's cash of just over $1 billion, Based on Disney's closing share price of $25.52 as of 1/23/06).

Pixar Chairman and CEO Steve Jobs will be appointed to Disney's Board of Directors as a non-independent member. With the addition of Jobs, 11 of Disney's 14 directors will be independent.

"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." Pixar's 20-year track record includes the hits Toy Story, Toy Story 2, A Bug's Life, Monsters, Inc., Finding Nemo and The Incredibles. All Pixar movies.

More details in this Disney press-release.

What Others Say about This

River View eighth-grader rebounds after leg accident

Keep your eye on the ball is the mantra of many athletic coaches. River View Junior High School eighth-grader Kyle Daugherty follows the advice on the basketball court, and he hopes others do, too, when he has the ball in his hands. He's not fixated on h ...
Full article at: Coshocton Tribune  More like this  1 hour ago

Cancer activists lament dust-up

Here’s how much Melinda Moseley cares about supporting Susan G. Komen for the Cure: She completed the organization’s three-day, 60-mile fundraising walk last fall, even though she had been hit by a car while training for it. ...
Full article at: Atlanta Journal Constitution  More like this  1 hour ago

Easter Seals-Goodwill celebrates making 'a huge difference' for 65 years

Bill Mahoney has worked at the Goodwill distribution center in Great Falls for about five years.- 10:00 pm Here are Saturday's final scores from the Treasure State's prep basketball venues.- 11:43 pm Fighting City Hall is a long-term hobby for Steve Forb ...
Full article at: Great Falls Tribune  More like this  1 hour ago

• More Other Stuff Stories
• I4U News Homepage