This is the news that will surely cause the Intardwebz to break in half today, as it’s been announced Disney will purchase Marvel Entertainment.
WAY!
Take the jump to read the entire press release, then shout out your nerd rage in the comment section.
Suddenly that MODOK Steamboat Willie bit takes on a whole new meaning.
Acquisition highlights Disney’s strategic focus on quality branded content, technological innovation and international expansion to build long-term shareholder value
–An investor conference call will take place at approximately 10:15 a.m. EDT / 7:15 a.m. PDT August 31, 2009. Details for the call are listed in the release.
Building on its strategy of delivering quality branded content to people around the world, The Walt Disney Company /quotes/comstock/13*!dis/quotes/nls/dis (DIS 26.84, -0.17, -0.63%) has agreed to acquire Marvel Entertainment, Inc. /quotes/comstock/13*!mvl/quotes/nls/mvl (MVL 38.65, +0.41, +1.07%) in a stock and cash transaction, the companies announced today.
Under the terms of the agreement and based on the closing price of Disney on August 28, 2009, Marvel shareholders would receive a total of $30 per share in cash plus approximately 0.745 Disney shares for each Marvel share they own. At closing, the amount of cash and stock will be adjusted if necessary so that the total value of the Disney stock issued as merger consideration based on its trading value at that time is not less than 40% of the total merger consideration.
Based 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.
34 Comments
This better not F with the movies in production that revolve around the Avengers (Thor/Capt A/Avengers). I think they have a good plan going.
Will Wolvie now walk around the Magic Kingdom with Mickey and Donald?
What will happen to all of the Marvel themed rides and Characters at Islands of Adventure theme park. It is practically right next door to Disney World.
Well this will certainly make future Kingdom Hearts games interesting. Do you think Wolverine will be a summon? Will The Punisher fight alongside Donald and Goofy? That could be kind of awesome, actually.
The Kingdom Hearts crossover is a potential bonus…
HOLLY SPIDERMAN WEARING MICKEY EARS BATMAN
*HOLY lol, we’ll this means that incredibles and FF4 won’t sue each other any more
I wouldn’t be surprised if that is where all this started.
Business discussions have started under much more off beat ideas before. Maybe Marvel threatened something and Disney flexed their muscles and then just decided to take over.
So this is a Dark Reign tie in, right?
I don’t think we will see many changes in the print areas of either company. Where you will see improvements is in the movie and electronic areas. Disney has mastered this area. With the exception of a few recent successes, (Iron Man, Spiderman), most Marvel character movies have not done as well as they could have. Disney just plain knows how to get things done. Any company that employs people to just be imaginative has to excel in the comic area.
I am not looking forward to the Punisher Crossover as much as I am the Wolverine/Mickey Mouse Team Up! I can’t wait to see Mickey get medieval on someone!
This is cool
Hopefully, Dethlock and Pinochio will team up. Namor still live Under the Sea.
I wonder where this leaves Boom! and their Disney books.
I was wondering about the Boom! books as well.
Positive: The Spiderman Musical might have funding again.
Con: New Mutants High School Musical 35.
For real? For really reals?
Okay, luckily I am at work, or I may be having to have a drink to recover from this. This literally just blew my mind. NOT something I was expecting to see this morning!
Thank goodness I ceased my personal Diney Boycott a few years ago. That would have made life tough.
Talk about a game changer!
There is potential shenanigans that will happen from this deal. But I don’t think it’ll be anything bad… other than a Kingdom Hearts comic book that will include Marvel’s character catalog to make an appearance…
Wow. I’m in shock. Did not see this coming at all. I really, truley don’t know what to think of this news.
Weired stuff.
However, now that I’m thinking about it, this can’t be ALL bad. Do you smell a darker, grittier Darkwing Duck comic on the horizon?
…
Neither do I. But one can dream…
God, this better not result in all our books being dumbed down kids versions. Although, I’m thinking Marvel Exclusives at the Disney parks.
I am absolutely, completely horrified…And I thought Marvel was screwed up enough under it’s current owners….GAAAHHHHHH!
The next big Royal wedding ! Ariel and Namor ! he slays Prince Eric and takes her hand and they rule the sea together and eat delicious sebastian and his children every night
Oh no! What’s gonna happen now? Well… At least the next Kingdom Of Hearts might be interesting.
I wonder what this will mean for BOOM Studio’s Disney Comics, and The Iron Man and Wolverine shows currently on the Nickelodeon networks?
IMHO, they will probably honor the contracts and not renew any of the shows.
That’d be my guess as well…
I wonder what this will mean for BOOM Studio’s Disney Comics, and The Iron Man and Wolverine shows currently on the Nickelodeon networks?
I imagine it will mean that they re-evaluate the contracts involved when they’re up… Otherwise, they run the risk of reneging on a possibly expensive binding agreement.
Wow did think I’d be see that when I got home from work this morning. This could go down two ways as far as I see it. One Disney takes an active role in the shape of the overall direction of Marvel’s properties or two they let them act as an independent subsidiary within the company. Either way it will be entrusting to see how it all works out.
Thinking about it… Now is Disney/Pixar/Marvel, all in one package? what next Buying SEGA and Shohen Jump? No because at this point We only miss Sonic and Naruto to make for a “full”….I hope no one of disney is hearing…They coudl SERIOUSLY think about it.
I have to agree with Chuck Dixon, who said “And four billion seems cheap to me. Spider-Man alone is worth more than that.”
If the Avengers movies are as successful as Spider-Man and Iron Man, it seems like Disney could make back its investment in very short order.
Dang, if I knew Marvel could be bought so cheap I would have rounded up 400,000,000 of my close personal pals to pitch in 10 bucks each and we could have bought the company ourselves. :)
C’mon people, it’s so obvious how this happened…
“Marvel, you just celebrated 70 years of publishing comics, what are you going to do now?”
“We’re going to Disneyland! Wait…no…that wasn’t a legally binding sales agreement…nooooooo….”
I like Disney and all, but they are going to ruin Marvel. So much for my favs, I’m goingto have to go back to anime now.
I really do believe that Disney is not going to “upset the apple cart” in terms of Marvel Publishing. They aren’t going to turn every character and property safe for the kiddies. They paid $4 billion for Marvel, there’s no way that they are going to fuck up a good thing. I’m sure they’ve taken notice of the DC/WB “partnership” and how they are unable to get ANYTHING done and have learned from it. Like many people have said here and elsewhere, I believe we’ll see a stronger presence in TV, Movies, and licensing where Disney can flex their muscle. Also, I’m sure Hollywood Studios will see an upgrade, and Spidey, Cap, and Wolverine will be prominent fixtures. I’m not getting too worked up about this yet.
You know, one place that probably could benefit from the deal is Marvel’s animated features. I like both Wolverine and the X-Men and The Spectacular Spider-Man, but it seems to me Marvel’s direct-to-DVD features like the punch of DC/Warner Bros. releases like “Wonder Woman” and “Green Lantern: First Flight.”
a question for de DC fans out there (i’m looking at you Stephen Schleicher) , how many DC as a publisher and editorial line change after time/warner boughts it? was it for best o for worse?
a question for de DC fans out there (i’m looking at you Stephen Schleicher) , how many DC as a publisher and editorial line change after time/warner boughts it? was it for best o for worse?
Well, considering that Warner Brothers merged with National Periodical Publications in 1969 (before even Stephen and I were born) there’s not really a comparison, both in terms of output and in terms of what a buyout/merger means in the current global marketplace.
I can’t wait to see marvel on Ice!!!