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View Full Version : Finalized:Disney buys Pixar for approx. $7 billion (today 23rd)


eek
01-24-2006, 07:24 AM
"The merger of high tech and entertainment seems to have arrived. At an all-day meeting on Jan. 23, Walt Disney's board of directors agreed to buy Steve Jobs's Pixar Animation powerhouse for about $7 billion, BusinessWeek Online has learned. Jobs, who's also chief executive of Apple Computer, would become Disney's largest shareholder and take a seat on the Disney board, according to sources with knowledge of the deal," Ronald Grover reports for BusinessWeek.

"The acquisition will usher in a new era in which Disney, with Jobs and Disney CEO Bob Iger allied, could rewrite the rules of how entertainment is distributed digitally via new consumer technologies," Grover reports. "Additional specifics about the deal aren't yet clear. And it still must be approved by Pixar's board of directors, the sources say. Disney's board approved the transaction with the expectation that it could be announced on Jan. 24. The terms include giving Jobs an estimated 7% stake in Disney and letting Pixar's top creative executive, John Lasseter, have a key role in advising Disney in creative matters."

http://www.businessweek.com/technology/content/jan2006/tc20060124_959402.htm

and more 53 mins ago: http://movies.monstersandcritics.com/news/article_1078903.php/Disney_gobbles_up_Pixar





eek

desmondying
01-24-2006, 07:33 AM
wow, there's already a handfull of topics about this.

Waht I'm unsure about is the pixar stocks owned by the artist. Bacause normally Pixar gives some of its stock to its employees as kind of a bonus. Does this mean they own disney stock now, or is the value of the stock returned to the artist?

I hope this would be for the better.

-Vormav-
01-24-2006, 07:34 AM
Let's just hope that having some Pixar guys with a bit of power in Disney will bring about a change to their remake strategy.

EpShot
01-24-2006, 07:37 AM
out of curiosity, where does the $7 billion actualy go?
i've never quite understood that.

DorkmanScott
01-24-2006, 08:02 AM
So this is what it sounds like when quality dies. :sad:

opus13
01-24-2006, 08:09 AM
out of curiosity, where does the $7 billion actualy go?
i've never quite understood that.

quick and dirty - there are two types of buyouts: cash or stock

in a cash transaction, all public shares are purchased back for a set price. if a majority of the shareholders vote to do it, those in opposition cant say no. they are getting cashed out. that cash value is than considered a purchase asset by the parent corporation, and the cost is diluted into the current stock price.

in a stock transaction, then all shares of company A are replaced with a certain amount of company B. same voting rules apply.

there are also stock+cash transactions, but i bet you can figure that out ;)

Breinmeester
01-24-2006, 08:15 AM
Let's hope Lasseter and Jobs can revamp WDFA. I know a lot of artists at Disney would love that. And let's hope Pixar doesn't get stuck with middle management, where a film doesn't get greenlighted because they fear the characters are hard to sell with a happy meal.

Hey, maybe they will get back on 'Fraidy Cat', that sounded promissing.

Seven
01-24-2006, 08:16 AM
So this is what it sounds like when quality dies. :sad:

I couldnt agree more :(

opus13
01-24-2006, 08:19 AM
oh yeah: and on topic...

this is the age of mergers and buyouts. hp+compaq, at&t+all its children, daimler+chrysler, puegot+nissan, warner+aol, disney+pixar.

in the grand scheme of things, pixar is tiddlywinks compared to any of the above mergers.

will it be a death knell for either party? who knows. im no jobs/mac fan, but he's a PR machine. if nothing else he will seek some level of creative excellence simply because it will look good on a tshirt or a plush toy.

Breinmeester
01-24-2006, 09:44 AM
So this is what it sounds like when quality dies. :sad:
I couldnt agree more :(

Don't you think you guys are a bit fast to judge?? Jobs aims to have Lasseter lead the creative departments of both companies. Let's just wait and see what happens to Disney product. I believe Pixar product will remain at the same quality level.

Frank Lake
01-24-2006, 12:23 PM
Don't you think you guys are a bit fast to judge?? Jobs aims to have Lasseter lead the creative departments of both companies. Let's just wait and see what happens to Disney product. I believe Pixar product will remain at the same quality level.
They both have NO clue what they are saying. HELLO! people Pixar became great and high quality when they were orginally under Disney's umbrella.

mummey
01-24-2006, 12:30 PM
They both have NO clue what they are saying. HELLO! people Pixar became great and high quality when they were orginally under Disney's umbrella.

The 'quality' part was all Pixar, it was the marketing part that Disney had an assist in. Pixar was never 'under the Disney umbrella'. Disney had a contract with Pixar to distribute its films.

Apoclypse
01-24-2006, 12:33 PM
We all know how anal Jobs is about quality. So I'm sure he will but heads with everyone just to get his ideas across. He's always been that way and I don't se him stopping. However will the Pixar brand die now that its owned by disney, because in all respects any new pixar movie is in all intents and purposes a Disney movie and viceversa. I hope they figure out what to do with the pixar company and brand name first before they do anything rash like bringing everything under the disney name. To me pixar is its own company with its own history, it shouldn't be mergd into disney. I wonder if lasseter will revive the 2d animation aspect of Disney, I don't know the guy but he seems like the man for the job.

mummey
01-24-2006, 12:34 PM
I wonder if lasseter will revive the 2d animation aspect of Disney, I don't know the guy but he seems like the man for the job.

To answer that, there is no 2D aspect of Disney Animation.

baby
01-24-2006, 12:41 PM
http://babystudio.free.fr/fun/newlogo.jpg
tadaaaaa

Nemoid
01-24-2006, 12:50 PM
Vader mode :

Nnoooooooooooooooooooooooooooooooooo !:banghead:

RobW720
01-24-2006, 01:16 PM
heh, if for whatever reason Cars flops, I bet the masses will blame this.

Stop acting like it is the end of the world. Bunch of Pessimists, the lot of ya. Yeah, it could go bad, but it could go Very good too.

Long live Pixney.

... Or Dixar, but that has a funny pornier name to it they probably wont go with :-D

Rob.Geddes
01-24-2006, 01:33 PM
I may be in the minority, but i see this as a good thing.

A lot of the negative backlash against Disney has come about due to the actions of Michael Eisner, who is no longer pulling the strings. To see the ease with which most people can categorically bash Disney because it's "cool to hate them" is discouraging.

Ignoring the corporate banner, and seeing Disney as a studio full of talented people who are capable of producing excellent work shouldn't be that difficult. Chicken Little had some great animation, so you couple that talent with the folks over at Pixar, and bring the guidance of John Lassetter, who IMO is the closest thing the industry has right now to a Walt Disney, and you have a powerhouse.

What's got me excited is my 2 favourite animation folks, John Lasseter and Glen Keane, are now going to be under the same umbrella. Score!

But really, if this deal hadn't happened, Pixar would be courted by every other major player. Would you rather see them with Fox?

kees
01-24-2006, 01:40 PM
Hopefully the pixar employees will be properly rewarded for this deal, since they are part of the reason why they are so succesful.

They could probably give every employee a million dollars and still have a few billions left over =)

Hope this will work out for the pixar employees (both financially and more importantly artistically)

-Kees

UrbanFuturistic
01-24-2006, 01:51 PM
DOOM!

TAKE COVER!

IT'S THE END OF THE WORLD!

WE ARE ALL GONNA DIE!

In other news, doomsayers went out of fashion in the middle ages.

mummey
01-24-2006, 02:04 PM
DOOM!

TAKE COVER!

IT'S THE END OF THE WORLD!

WE ARE ALL GONNA DIE!

In other news, doomsayers went out of fashion in the middle ages.

You haven't been watching American news lately then have you?

Shaderhacker
01-24-2006, 02:38 PM
All of you guys are premature..

And why are these threads being recreated over the same material?

The deal is NOT final yet!! Even though Disney approved Iger to make Pixar an offer, Pixar hasn't voted on the offer yet (today, Tuesday January 24th).

Let's wait till later today for some FINAL news on the subject.

-M

halo
01-24-2006, 02:41 PM
http://babystudio.free.fr/fun/newlogo.jpg
tadaaaaa

LOL

Pixlmonky
01-24-2006, 02:51 PM
oh yeah: and on topic...

this is the age of mergers and buyouts. hp+compaq, at&t+all its children, daimler+chrysler, puegot+nissan, warner+aol, disney+pixar.

in the grand scheme of things, pixar is tiddlywinks compared to any of the above mergers.

will it be a death knell for either party? who knows. im no jobs/mac fan, but he's a PR machine. if nothing else he will seek some level of creative excellence simply because it will look good on a tshirt or a plush toy.


Looking at those examples.....
- DaimlerChrysler to eliminate 6000 jobs.....
http://biz.yahoo.com/ap/060124/germany_daimlerchrysler_cuts.html?.v=7
- Daimler to cut White-collar staff by 1/5.....
http://biz.yahoo.com/rb/060124/autos_daimlerchrysler_jobs.html?.v=3
- DCX stock down almost 50% since merger (finance.yahoo.com)
- At&t stocks down 50% since the merger (finance.yahoo.com)
- TWX down almost 60% since the merger (finance.yahoo.com)
- HPQ is finally bouncing back, the only one out of them that actually did well after the merger
- there is no news on a puegot-nissan merger

They are "tiddlywinks" when compared to mergers. But when looking at takeovers/buyouts, I don't think it is. This is pretty major in our industry. I am cool with it as long as there are no major layoffs.

As long as it unfolds as it has been speculated with Jobs having a major say on the Board and Lassetter in major control over creative content on both sides, I think this is great. As long as Pixar is allowed to remain Pixar. Don't fix what isn't broken. You can still innovate without losing your identity.

UrbanFuturistic
01-24-2006, 02:52 PM
You haven't been watching American news lately then have you?No, only the British kind :p Channel 4 News ++

JDex
01-24-2006, 02:55 PM
All of you guys are premature..

And why are these threads being recreated over the same material?

The deal is NOT final yet!! Even though Disney approved Iger to make Pixar an offer, Pixar hasn't voted on the offer yet (today, Tuesday January 24th).

Let's wait till later today for some FINAL news on the subject.

-M

And I'm not sure it will even be final then, as it will have to get government approval (probably rubber stamped, but still).

But hey... that means we'll have at least two more new threads telling us It's Final!

Shaderhacker
01-24-2006, 03:25 PM
And I'm not sure it will even be final then, as it will have to get government approval (probably rubber stamped, but still).

But hey... that means we'll have at least two more new threads telling us It's Final!

Well, we don't really need to wait for news of the papers being signed, but we should at least get news that Pixar has accepted the offer from Disney and some specifics as to what's going to happen to all the studios involved.

-M

baby
01-24-2006, 03:36 PM
http://babystudio.free.fr/fun/mixar.jpg

eek
01-24-2006, 03:37 PM
Well, we don't really need to wait for news of the papers being signed, but we should at least get news that Pixar has accepted the offer from Disney and some specifics as to what's going to happen to all the studios involved.

-M

there was news that pixar had accepted it, yesterday. Finalized today. This 53 mins ago:

http://movies.monstersandcritics.com/news/article_1078903.php/Disney_gobbles_up_Pixar



eek

Shaderhacker
01-24-2006, 03:40 PM
there was news that pixar had accepted it, yesterday. Finalized today:

No. Here's what happened:

last Friday - Disney's board voted to see if they wanted to even buy Pixar (outcome = yes).
Sunday - Pixar's board voted to see if they would accept a buy-out from Disney (outcome = yes).
Monday - Disney's board accepted to buy but then voted to give Iger the authorization to offer $7billion in stocks trade (outcome = yes).
Tuesday - Waiting to see if Pixar will accept offer..(outcome = ?)



-M

eek
01-24-2006, 03:41 PM
ok ill go get the news that pixar had tenatively agreed on this deal!
"Disney board okays takeover offer to Pixar: source

LOS ANGELES (Reuters) - The board of Walt Disney Co. <DIS.N> has authorized Chief Executive Robert Iger to make an offer to buy Pixar Animation Studios Inc. <PIXR.O>, and that is expected by Tuesday, a source familiar with the matter said late on Monday. Pixar's board is expected to consider the offer on Tuesday as well, said the source, who did not disclose financial terms." yesterday.


eek

FloydBishop
01-24-2006, 03:52 PM
Now maybe all the Disney bashers and the Pixar zealots on this forum (and many others) will cancel each other out?

mummey
01-24-2006, 03:52 PM
At this point, its going to happen. I would guess that the idea started as soon as Iger became CEO. He probably called up Steve and said, "Hey, I got an idea..."

Everything between that point and last week has probably just been negotiations between the two. I would imagine that both boards have known about this and were even part of the negotiations. The meetings going on now are simply presentations of the final deal and Q&A. Everyone's interest on the board was most likely already considered so at the end of the meetings each board will rubber-stamp the agreement and wait until the right time to announce.

There, I just said what everyone was thinking but couldn't put it all together. Your welcome. :D

-b

mummey
01-24-2006, 03:53 PM
Now maybe all the Disney bashers and the Pixar zealots on this forum (and many others) will cancel each other out?

Usually they were one-in-the-same. (stupid bastardized American English :p )

SheepFactory
01-24-2006, 04:07 PM
Guys can we keep this to one thread please.

http://forums.cgsociety.org/showthread.php?t=311830