powerful man in Hollywood. Now that he is the single largest share holder of Disney stock, and a member of the board, look for Disney to go through some changes.
Here's a good article on the Deal.
http://tinyurl.com/e3hruDisney buys Pixar
House of Mouse is teaming up with Pixar in a $7.4 billion deal. Steve Jobs to become board member at Disney.
By Paul R. La Monica, CNNMoney.com senior writer
January 24, 2006: 7:17 PM EST
NEW YORK (CNNMoney.com) - Mickey Mouse and Nemo are now corporate cousins. Walt Disney has announced that it is buying Pixar, the animated studio led by Apple head Steve Jobs, in a deal worth $7.4 billion.
Speculation about a deal being imminent raged on Wall Street for the past few weeks. Disney has released all of Pixar's films so far, but the companies' current distribution deal was set to expire following the release of this summer's "Cars." The merger brings together Disney's historic franchise of animated characters, such as Mickey, Minnie Mouse and Donald Duck, with Pixar's stable of cartoon hits, including the two "Toy Story" films, "Finding Nemo" and "The Incredibles."
Steve Jobs, the CEO of Apple and Pixar, will become a board member of Disney following the closing of Disney's purchase of Pixar.
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"Disney and Pixar can now collaborate without the barriers that come from two different companies with two different sets of shareholders," said Jobs in a statement. "Now, everyone can focus on what is most important, creating innovative stories, characters and films that delight millions of people around the world."
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