Burbank, CA and New York, NY, August 31, 2009 —Building on its strategy of delivering quality branded content to people around the world, The Walt Disney Company (NYSEIS) has agreed to acquire Marvel Entertainment, Inc. (NYSE:MVL) 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.
Investor Conference Call:
An investor conference call will take place at approximately 10:15 a.m. EDT / 7:15 a.m. PDT today, August 31, 2009. To listen to the Webcast, turn your browser to http://corporate.disney.go.com/inves...entations.html or dial in domestically at 800-260-8140 or internationally at 617-614-3672. For both dial-in numbers, the participant pass code is 51214527.
The discussion will be available via replay on the Disney investors website through September 14, 2009 at 7:00 PM EDT/4:00 PM PDT.
Black Flag NC
At first my reaction was: FUCK! But, it seems to me that this was a case of Disney buying out a rival.
Disney has been getting hammered by Marvel in seeking the attention of boys aged 6-12. You think today's little boys give a crap about Mickey Mouse and Pluto? Hell no, they're all about some Iron Man and Hulk. I'm a manager for Sears and in our store here in Virginia, all the Disney clothes are for infants/toddlers and half of the older boys clothes are decked out with Wolverine, Spidey, Dr. Doom, or even lesser known Marvel characters like Black Panther and Colossus. The toy sections are the same way. We even got in a rack full of adult tees featuring massive collages of Marvel heroes.
Disney had to react to that, ya know? I doubt there'll be any change really. Except now Disney will be making the money they had been losing to Marvel. As long as Disney leaves the actual "comics" in Marvel Comics alone, I think it'll be all good.
launchpad25
Black Flag NC wrote:
At first my reaction was: FUCK! But, it seems to me that this was a case of Disney buying out a rival.
Disney has been getting hammered by Marvel in seeking the attention of boys aged 6-12. You think today's little boys give a crap about Mickey Mouse and Pluto? Hell no, they're all about some Iron Man and Hulk. I'm a manager for Sears and in our store here in Virginia, all the Disney clothes are for infants/toddlers and half of the older boys clothes are decked out with Wolverine, Spidey, Dr. Doom, or even lesser known Marvel characters like Black Panther and Colossus. The toy sections are the same way. We even got in a rack full of adult tees featuring massive collages of Marvel heroes.
Good observation, Nobody gives a crap about Mickey, and friends anymore, but i'm sure those same 6-12 year old boys wouldn't be caught dead watching 'Hanna Montana', or 'High School Musical', either. (At least i hope not.) And here's what i found The X Bridge.
Quote:
Besides, everybody and their mother knows why Disney bought Marvel, and it's not because they make comic books. It's because Marvel makes characters. Characters that have starred in movies that made more than $6.6 billion in the worldwide market. Characters that have been a part of the American psyche for nearly 50 years (70 if you count the fact that the first Marvel comic came out 70 years ago this year). If anything, the Marvel characters were the driving point of the sale in the first place.
Heck, nobody cares about The Muppets anymore, and Disney is stuck with them. What most people don't realize is that Scrooge Mcduck originated in the comics. His first appearance was in a comic story called 'Christmas On Bear Mountain. (1947) Another interesting fact is that Disney sued Marvel over the accusation that Howard The Duck looks to similar to Donald Duck.
Speaking of cross-over possibilities, there was a Marvel comic entitled "The Punisher Kills the Marvel Universe". It was fun, but can you freakin imagine "The Punisher Kills the DISNEY Universe"? I've wished for Mickey to catch a bullet in the head since I was a kid. Disneyland would be in flames. That deranged alien fucker Stitch could be his sidekick!
Honestly which Beast would you rather have? One is a superintellegent Xman and the other dresses like a douche and is friends with a talking teapot.
Marvel Beast, please.
launchpad25
Black Flag NC wrote:
Speaking of cross-over possibilities, there was a Marvel comic entitled "The Punisher Kills the Marvel Universe". It was fun, but can you freakin imagine "The Punisher Kills the DISNEY Universe"?
i'd pay for a copy of 'The Punisher Kills The Disney Channel', myself.
John Gibson
Black Flag NC wrote:
launchpad25 wrote:
Another interesting fact is that Disney sued Marvel over the accusation that Howard The Duck looks to similar to Donald Duck.
Speaking of cross-over possibilities, there was a Marvel comic entitled "The Punisher Kills the Marvel Universe". It was fun, but can you freakin imagine "The Punisher Kills the DISNEY Universe"? I've wished for Mickey to catch a bullet in the head since I was a kid. Disneyland would be in flames. That deranged alien fucker Stitch could be his sidekick!
LMAO, aw man! Too funny! It's hearing news like this though that makes me want to do a rant, or talk about it in the Monthly Spew, which we have taken out of the show, cause I couldn't find enough news.
Dude, have you considered this to be your next rant? Remember you did the Gaming Elitist rant? People loved that! See, if we lived right by each other, we could team up, and talk about this in a rant.
Black Flag NC
Oh, I've got a sketch in mind for this. You'll see soon.
John Gibson
LMAO, too fucking funny. I'm gonna use this for the September show.
Black Flag NC
John Gibson wrote:
LMAO, too fucking funny. I'm gonna use this for the September show.
Oh good, you got it. Hope my editing job was ok.
StrifeDeliveries
Quick and simple, Matt your intro was downright halarious. Seriously I though my sides were going to split open. hysterical...
FUCK! But, it seems to me that this was a case of Disney buying out a rival.
