Disney Acquires Marvel for $4 Billion
Spiderman to Become Company-mates with Mickey
Marvel Entertainment and the Walt Disney Company issued a joint press release announcing the purchase of Marvel Entertainment by the Disney Company.
In the news release, Disney said the "acquisition highlights Disney's strategic focus on quality branded content, technological innovation and international expansion to build long-term shareholder value."
The news release was sent out to Marvel's subscribers and to fans on Facebook at about 9:45 a.m. CDT. The immediate question then becomes what this will mean for Marvel movie plans. Currently, the studio has Samuel L. Jackson under contract to play Nick Fury in nine different movies, including the upcoming Iron Man 2 and the much publicized Captain American movie, thought to be due out in 2011.
Among the 5,000 licensed characters created by Stan Lee and other writers and artists at Marvel Entertainment are the Hulk, Captain America, Iron Man, The Avengers, Spiderman and the X-men. Marvel Entertainment has created movies and other merchandise related to the characters and is the country's largest comic book manufacturer.
The sale is expected to cost the Walt Disney Company about $4 billion, based on the closing price of Disney stock on Friday, August 28. Marvel Entertainment stockholders will be receiving $30 per share in cash and roughly three shares of Disney stock for every four shares of stock in Marvel Entertainment.
Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company said, ""This transaction combines Marvel's strong global brand and world-renowned library of characters including Iron Man, Spider-Man, X-Men, Captain America, Fantastic Four and Thor with Disney's creative skills, unparalleled global portfolio of entertainment properties, and a business structure that maximizes the value of creative properties across multiple platforms and territories."
Under the agreement, the CEO of Marvel Entertainment will remain in control of the Marvel properties and will be in charge of integrating them into Disney's international business model.
Disney is acquiring the company partially in anticipation of the new crop of super hero movies due out over the next few years. Iron Man 2 is scheduled for release in 2010 as a follow up to the surprise hit of 2008. In addition, Marvel Studios is said to be working on movies for Captain America, Thor and The Avengers. A second Wolverine movie is also in development as is a movie for Deadpool. The fourth Spiderman movie is also in production with director Sam Raimi at the helm.
Published by Lucinda Gunnin
Lucinda Gunnin is a writer in Illinois, who spends her days running a mini-storage complex. She had her first short stories published in 2009's Elements of the Soul and more in the recently published Element... View profile
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8 Comments
Post a CommentVery cool, the movies keep getting better and better!
Woohoo! Even though Disney seems to have a monopoly now, I'm happier that I'll be able to get everything at one place.
My son's book bag has "Marvel" on it with the Hulk, Iron Man, and Wolverine. Next year, I'm sure he'll still be obsessed with the crew, but I just can't envision Disney's logo. I'll hold on to Spiderman lunchbox with the Marvel logo, too. :)
Can you see the theme parks growing as we speak? Great write up.
Bet alot of people will like seeing the new characters at Disney.
Wonder if the latest comics will be worth more since they'll be the last of the old regime.
Wow that is quite a price for comic book characters! I am sure they will market the heck out of them too. I was definitely a comic book fan as a kid.
Stan Lee provided me with lots of entertainment as a kid with his comic books.