Disney Buys Marvel!
Disney Buys Marvel Entertainment for $4 billion!
Today, the Walt Disney Company announced it is purchasing Marvel Entertainment and its 5,000 characters for $4 billion in stock and cash. Sure this including Spider-Man and the X-Men. Wow… what a shocking news huh..?
Marvel shareholders will get $30 per share in cash plus 0.745 Disney shares for every Marvel share owned. The boards of Disney and Marvel have both approved the deal, which now needs the backing of Marvel shareholders and competition authorities. Marvel shares were ahead $9.76, or 25%, to $48.41 in midday trading while Disney shares fell 94 cents, or 3.5%, to $25.90.
A Great Assets
“We believe that adding Marvel to Disney’s unique portfolio of brands provides significant opportunities for long-term growth and value creation,” Disney president and chief executive Robert Iger said. “We are pleased to bring this talent and these great assets to Disney.”
Other Marvel’s characters include Captain America, the Fantastic Four and Thor. “Disney is the perfect home for Marvel’s fantastic library of characters given its proven ability to expand content creation and licensing businesses,” said Marvel chief executive Ike Perlmutter.
“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,” he added.
A Great Deal
Analyst David Joyce of Miller Tabak & Co. said the acquisition will help Disney appeal to young men who have flocked to theatres to see Marvel’s superhero fare in recent years. That contrasts with Disney’s recent successes among young women with such fare as “Hannah Montana” and “The Jonas Brothers”.
“It helps Disney add exposure to a young male demographic it had sort of lost some balance with,” Mr. Joyce said, noting the $4-billion offer was at “full price.”
Last month, Walt Disney reported a fall in profits of more than a quarter as the downturn hit revenue at its film and theme park divisions. Net profit between April and June came in at $954m (£579m), down 26% on the $1.28bn the entertainment giant made in the same period last year.
Revenues of $8.6bn were down 7% from the $9.2bn recorded a year before.
source: compiling from several news sites
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