Disney and Marvel: Acquisition Complete!
New Year’s Eve 2009 didn’t just bring many promises for personal resolutions for 2010, it also brought the official sale of one of the biggest houses of creative and entertainment property to fruition. The Walt Disney Co. officially completed its $4.24 billion dollar acquisition of Marvel Entertainment Inc. on Thursday. With that, the mouse and company are now home to thousands of fictional characters that have proved popular and indelible in the public consciousness for several decades.
Marvel’s shareholders approved the sale, and Marvel Chief Executive Ike Perlmutter will oversee the Marvel business side of things, with the chain of command leading him to report directy to Disney CEO Robert Iger. Iger felt that the deal would help Disney grow even more, saying, “”the creative and business potential of this combination is substantial.” Marvel shareholders each received $30 per share in cash along with .74 Disney shares for each Marvel share owned.
The Stan Lee helmed POW! Entertainment Inc. also extended its partnership with Disney by three years, and Disney how has a 10% stake in that company as well.
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