Monday, August 31, 2009

News Item: The Mouse Makes a Bid on Stan Lee

I don't know about anyone else, but I was a bit surprised to learn that Disney very likely will be buying Marvel this morning. Approved by the board of directors of both Disney and Marvel, the transaction comes down to $50 a share, or about $4 Billion.

Robert Iger, CEO of Disney said "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"

As part of the deal, Disney will acquire total ownership of Marvel, including "more than 5000 characters." Ike Perlmutter, current CEO of Marvel will oversee Marvel properties under the direction of Disney.

I'm not sure what to think of this. My instinct says it sucks, at the very least from the perspective of market and product homogenization. The deal still has to be approved by the Marvel shareholders, and has to pass some anti-trust barriers, but I think it's safe to assume it's a done deal.

Disney to Acquire Marvel Entertainment []

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