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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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