Disney buys Marvel
On Monday morning, The Walt Disney Company announced that they have purchased Marvel Entertainment Group for $4 billion in US stocks and cash. This deal will give Disney full ownership of over 5,000 Marvel characters, including Daredevil, Spider-Man and the X-Men clan. This is Disney’s largest acquisition since it bought Pixar Animation Studios in 2006.
Disney reported that Marvel shareholders will receive $30 per share in addition to 0.745 of shares from Disney for every Marvel share they own. All shares will be received in cash.
This move shows a great amount of confidence on Disney’s part, particularly when the company is making major changes in regards to more recent productions in digital media. Marvel Chief Executive Ike Perlmutter will continue to oversee Marvel. The company earned a net revenue of roughly $200 million last year, up 47 per cent from 2007.