On January 24th, the Walt Disney Company announced the acquisition of Pixar Animation Studios. The sales price has been reported as $7.4 billion. The acquisition puts Steve Jobs, Pixar’s majority share holder, on the Disney Board of Directors.
This is good news for Pixar shareholders who will receive 2.3 shares of Disney stock for every one of Pixar. The deal makes Steve Jobs the single largest shareholder of Disney. While the deal has been announced, it is not expected to be concluded until sometime this summer.
Pixar has turned out blockbuster movies such as Toy Story, Toy Story 2, Finding Nemo, Monsters Inc., A Bugs Life, and The Incredibles. Cars, the latest production from Pixar is due in theaters on June 9th, 2006. And based on Pixar’s track record, it will be another smash hit.
Checkout the teaser trailer for Cars here.