Deal expected to strengthen Disney's position as a leading global provider of high-quality branded entertainment and build long-term shareholder value.
Advancing its strategy of delivering great branded content to people around the world, Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company (NYSE:DIS) announced today that Disney has completed its acquisition of renowned character franchise company, Marvel Entertainment Inc (NYSE:MVL).
"We're thrilled to welcome to the Disney family the talented team at Marvel," said Iger. "We believe the creative and business potential of this combination is substantial and can help us grow both our top and bottom line, leading to a significant increase in long-term shareholder value."
Under the terms of the agreement and based on the closing price of Disney on Thursday, December 31, Marvel shareholders will receive a total of $30 a share in cash, plus approximately 0.7452 Disney shares for each Marvel share they own.
Marvel's assets include a library of over 5,000 characters featured in a variety of media over 70 years and businesses, including licensing, movie production and publishing.
About The Walt Disney Company
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, interactive media and consumer products. Disney is a Dow 30 company with revenues of approximately $36 billion in its most recent fiscal year.
Forward-Looking Statements:
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of the current expectations of the Company regarding future events and are subject to significant risks and uncertainty and the Company undertakes no obligation to update or revise these statements. Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by the Company, including restructuring or strategic initiatives (including capital investments or asset acquisitions or dispositions), as well as from developments beyond the Company's control. Detailed factors that may cause results to differ materially from those described in the forward-looking statements are set forth in the Annual Report on Form 10-K of the Company for the year ended October 3, 2009 under the heading "Item 1A-Risk Factors," and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by the Company.
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Disney only wants them for all the rides they can make from the marvel characters. This is going to be as great as it was when Disney got with Pixar
EPIC FAIL i love marvel and awesomeness and bad attitudes and cursing and things like that but now they have to watch themself since disney is like a family entertainment sure it'll have the same stuff but not like it'll will before. ok... sure disney/pixar has made some of the best movies but there more childess movies like up or a bugs life and monsters inc but really can they relate to the ...
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EPIC FAIL i love marvel and awesomeness and bad attitudes and cursing and things like that but now they have to watch themself since disney is like a family entertainment sure it'll have the same stuff but not like it'll will before. ok... sure disney/pixar has made some of the best movies but there more childess movies like up or a bugs life and monsters inc but really can they relate to the hardcore stuff like iron man, spider man and the hulk and those heroes i just think their great but dont as great together.....
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It sucks :( Marvel way better than Disney. I can understand movie partnership, but this is too far. "Disney Marvel Universe", I wanna die!
welcome to the boards robiejz and TommyDeus
I only recently read this, and I agree with an earlier post, it made me nauseous. I was in disbelief. It's taken me an entire day to try to rationally justify it, but without knowing much about Disney as a corporation I couldn't. Reading some of the posts on here about Disney owning Miramax has set my mind at ease a little, but not much honestly. Marvel has been doing so well with the success ...
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I only recently read this, and I agree with an earlier post, it made me nauseous. I was in disbelief. It's taken me an entire day to try to rationally justify it, but without knowing much about Disney as a corporation I couldn't. Reading some of the posts on here about Disney owning Miramax has set my mind at ease a little, but not much honestly. Marvel has been doing so well with the success of Iron Man and other movies largely due to it's ability to satisfy old fan's and create new ones. Wether you've been reading Marvel comics since you were a toddler or your just a fan of the movies, it is the fan's that make Marvel successful. Our opinion does matter on what happens with the direction of this company and it's future. Someone else on here said that Disney will merely own the company, but have no influence on any of the writing or creative material. I think 4.1+ billion dollars gives them a LOT of influence. I care deeply about what this may do to Marvel comics and I really think that they should address the fans directly about this issue.
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