Disney To Buy Pixar In $7.4 Billion Deal
Disney has just announced that it will purchase Pixar Animation Studios in a deal worth around $7.4 billion in stock, making the animated studio a wholly owned subsidiary.
Chief personnel involved in the deal include Steve Jobs, Ed Catmull, and John Lasseter. Jobs will become Disney’s largest individual shareholder and will hold a seat on the Disney board of directors; Catmull will become president of the combined Disney and Pixar animation studios, reporting to Disney Studios CEO Dick Cook; and Lasseter will become the “chief creative officer” of the combined animation studios. Lasseter will also become a chief advisor to the Walt Disney Imagineering group, devising new attractions for the Disney theme parks. In both roles, Lasseter will report directly to Disney CEO Bob Iger.
A conference call is scheduled for 5:15pm Eastern Time. Toon Zone will have more on this important breaking story as it unfolds.