Movies
The Walt Disney Co. has today announced that it is buying Pixar Animation Studios Inc. for $7.4 billion in a deal which is expected to raise the former's position in the animation world.
The deal will also see Pixar CEO Steve Jobs become Disney's largest shareholder and ensure his entry onto Disney's board. Meanwhile, Pixar President Ed Catmull takes the position of the president of the combined studios. Vice President John Lasseter will serve as the Chief Creative Officer and Principal Creative Adviser at Walt Disney Imagineering.
Although Disney's domination in animation has waned recently, with movies such as Home on the Range and Treasure Planet receiving a markedly lukewarm reception, the acquisition of the studio responsible for Finding Nemo and The Incredibles is expected to provide renewed strength.
Jobs, also CEO of Apple Computers, said in a statement: "Disney and Pixar can now collaborate without the barriers that come from two different companies with two different sets of shareholders.
"Now, everyone can focus on what is most important, creating innovative stories, characters and films that delight millions of people around the world."
The deal will also see Pixar CEO Steve Jobs become Disney's largest shareholder and ensure his entry onto Disney's board. Meanwhile, Pixar President Ed Catmull takes the position of the president of the combined studios. Vice President John Lasseter will serve as the Chief Creative Officer and Principal Creative Adviser at Walt Disney Imagineering.
Although Disney's domination in animation has waned recently, with movies such as Home on the Range and Treasure Planet receiving a markedly lukewarm reception, the acquisition of the studio responsible for Finding Nemo and The Incredibles is expected to provide renewed strength.
Jobs, also CEO of Apple Computers, said in a statement: "Disney and Pixar can now collaborate without the barriers that come from two different companies with two different sets of shareholders.
"Now, everyone can focus on what is most important, creating innovative stories, characters and films that delight millions of people around the world."
More: Movies
Movie Reviews
'Extremely Loud & Incredibly Close' reviewTom Hanks features in a long and winding journey through New York after 9/11
At the Movies
David Lynch: 10 reasons to worship himIt's time to celebrate director David Lynch as the BFI screens a season of his films.
Movies Interviews
Max von Sydow 'Extremely Loud' interviewActing legend Max von Sydow on Extremely Loud & Incredibly Close, The Exorcist and Flash Gordon.
Box Office Charts
'The Woman in Black' wins UK box officeThe Woman in Black beats The Muppets and Star Wars at the the UK box office.
