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Cars' Weekend Brings Out the Doomsayers
Filed under: Animation », Disney », Box Office », Family Films », Newsstand »
Despite the fact that Cars topped the weekend box office in the US, Pixar-watchers are freaking out a little bit. It turns out that, thanks to an alarmingly slow Sunday, the movie made just $60.1 million over its first three days, not the previously estimated $62.8 million. While most of us would be plenty happy with a $60 million payday, that total places Cars only fourth of Pixar's seven releases in terms of first-weekend earnings, and suggests that the always-crucial word of mouth on the film is not so good.The (small) wave of panic was not limited to the industry, either: Early yesterday, Disney stock was down 3.5% (it closed the day off 1.9%), indicating that shareholders are disturbingly obsessed with the box office. Their antsy-ness, however, is probably understandable, given that Cars is the first Pixar product released since the company was purchased by Disney and, though it was made before the buyout, the film is nevertheless being seen as barometer of the public's attitude towards the studio and its films.
BREAKING: Disney buys Pixar for a cool $7.4 billion
Filed under: Animation », Classics », Deals », Disney », Newsstand »
As previously speculated, Disney's purchase of Pixar - to be
completed this summer - will be an all-stock one worth about $7.4 billion. Though no layoffs have been announced, the
purchase of Pixar is expected to have a major impact on the employees of Disney's existent animation division. Right
now, however, only the top level is changing: Steve Jobs is joining Disney's board (and, as previously mentioned, will
be one of the company's biggest shareholder), and Pixar's heads are sliding into the leadership positions of the
newly-created Pixar and Disney animation studios.The deal has been approved by the boards of both companies and needs only the vote of Pixar's shareholders to go through. And, Since Steve Jobs personally owns just over 50% of Pixar stock, it's safe to say that Disney won't be jumping the gun too much with today's press conference (scheduled for 515pm ET).
The fallout from this massive buy will certainly be extensive; we'll be bringing you the highlights as they happen.
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