DISNEY BUYS MARVEL
In $4B Deal
Published: 08/31/2009 09:53am
Disney and Marvel announced this morning that the Walt Disney Company will acquire Marvel Entertainment in a stock and cash deal valued at $4 billion. The agreement calls for Disney to pay Marvel shareholders $30 per share in cash plus Disney shares worth roughly another $20 per share.
Marvel CEO Ike Perlmutter will continue to oversee the Marvel properties for Disney.
Disney CEO Robert Iger said of the transaction, Ike Perlmutter and his team have done an impressive job of nurturing these properties and have created signikvficant value. We are pleased to bring this talent and these great assets to Disney. We believe that adding Marvel to Disney’s portfolio of brands provides significant opportunities for long-term growth and value creation.”
Perlmutter said: “Disney is the perfect home for Marvel’s fantastic library of characters given its proven ability to expand content creation and licensing businesses. This is an unparalleled opportunity for Marvel to build upon its vibrant brand and character properties by accessing Disney’s tremendous global organization and infrastructure around the world.”
Disney CFO Tom Skaggs told analysts that Marvel’s third party deals with studios such as Sony and Fox will stay in place, according to MarketWatch. He also said that the deal will help Disney produce films that have better DVD potential in a generally down environment for DVD sales.
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