Last week I mentioned that Disney was in talks to buy Pixar, and today they announced that the deal is done. Disney is paying $7.4 billion in stock for the company, and Steve Jobs will get a seat on the board:
As part of the deal, which is expected to be completed this summer, two Pixar veterans will head Disney’s animation efforts. Ed Catmull, who had served as Pixar’s president, was named president of the combined Pixar and Disney Animation Studios. John Lasseter, the Pixar executive vice president who is widely regarded as the studio’s creative leader, was named chief creative officer. Pixar will remain in its San Francisco Bay Area headquarters.
Additionally, Steve Jobs is now the largest individual shareholder of Disney. I think it’s a great move for Disney, as long as they execute properly – and by that I mean don’t screw things up.
What has been most successful for the two companies? Pixar made the movies, Disney handled the distribution. I don’t see any reason that should drastically change, so I hope the combined company still leaves the bulk of the creative stuff to Pixar.
Read: CNET News.com