Disney Buy Marvel! (Seriously!!)
Can you imagine Wolverine teaming up with Mickey Mouse? Who’d win in a fight: Pluto or Lockjaw? Could the mermaid Ariel be a contender with Mary Jane Watson for the love of Spider-Man? It all may sound silly, but guess what…it could happen now. That’s right, Disney is buying Marvel.
WTF?! Really?! What a strange combination!
Newsarama.com has published a press release from The Walt Disney Company ahead of an investors conference call where they will formalize the announcement of the buyout.
From the press releaseBased on the closing price of Disney stock on Friday, August 28, the transaction value is $50 per Marvel share or approximately $4 billion.
“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,” said Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company. “Ike Perlmutter and his team have done an impressive job of nurturing these properties and have created significant value. We are pleased to bring this talent and these great assets to Disney.”
“We believe that adding Marvel to Disney’s unique portfolio of brands provides significant opportunities for long-term growth and value creation,” Iger said.
“Disney is the perfect home for Marvel’s fantastic library of characters given its proven ability to expand content creation and licensing businesses,” said Ike Perlmutter, Marvel’s Chief Executive Officer. “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.”
Under the deal, Disney will acquire ownership of Marvel including its more than 5,000 Marvel characters. Mr. Perlmutter will oversee the Marvel properties, and will work directly with Disney’s global lines of business to build and further integrate Marvel’s properties.
The Boards of Directors of Disney and Marvel have each approved the transaction, which is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, certain non-United States merger control regulations, effectiveness of a registration statement with respect to Disney shares issued in the transaction and other customary closing conditions. The agreement will require the approval of Marvel shareholders. Marvel was advised on the transaction by BofA Merrill Lynch.
By the time all is said and done, Disney will be paying almost $4 billion. BILLION. I wonder if old Stan Lee’s going to see any of that?
There’s a lot more information in the press release regarding the financials and the business aspect, so visit Newsarama.com if you want to read more.
I can’t even begin to imagine what, if anything this means for Marvel. As a native Floridian, who’s got a LOT of hard feelings towards the theme park division of The Walt Disney COmpany, I’m really not sure about this. Sure, it’s business as usual for a while, until they get it all in control. But Disney’s notorious for treating their creative staff like crap, just ask most of the animators from the 80s and 90s. For them, it’s all about the bottom line dollar, creativity be damned, in my humble opinion. Will they turn that same attitude toward Marvel? Only time will tell, I guess.
Of course, on the brightside: Marvel animated movies by Pixar would kick ASS!
Well… as crappy as it may be, I think it makes sense for Disney. And marvel too. They just bought the whole “Avengers” franchise of films (and, more importantly – the merchandising rights). Not to mention they now own a large chunk of the market space where the hyper-valued teens and 20′s dwell. And Marvel gets Disney’s money (financing) and distribution, both of which have been an issue in the past for them. This could actually, in the end, be a good deal for both companies.
As far as Disney history of creating animators like crap… that is well known. But ever since John Lassiter has taken the helm as Chief Creative Officer I think that era has ended. They have been bringing on more and more animators. They are branching out into other, culturally complimentary genres – Ponyo, and now Marvel. And really, I think Disney is going to let Marvel run Marvel… they just want the disctribution and merchandise rights. And the ability to create some new rides.
That’s my 2-cents.
I wonder what’s going to happen to Universal Orlando’s Marvel Island at Islands of Adventure when the between Universal and Marvel ends. Think we’ll start seeing Marvel stuff start creeping up in the Disney parks?
(and, seriously…I wanna see a fight between Pluto and Lockjaw! Ever since I wrote that, it’s just playing in my head!)