http://corporate.disney.go.com/news/corporate/2009/2009_0831_DISNEY_AND_MARVEL_ENTERTAINMENT.html

August 31, 2009
DISNEY TO ACQUIRE MARVEL ENTERTAINMENT

Worldwide leader in family entertainment agrees to acquire Marvel and its portfolio of over 5,000 characters

Acquisition highlights Disney's strategic focus on quality branded content, technological innovation and international expansion to build long-term shareholder value

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 (NYSE:DIS) 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.

explaining the origins of his mystical ebonics-powered glass eye ball.

finest meats and cheeses from throughout the land."

on other other hand, remember that Kingdom Hearts exists.

Imagine a Pixar version of Spidey or the Hulk or any of the big characters. IF done right, there are endless possibilities. What's the chances this will be done right though?

Doesn't universal in fl have rides based on marvel characters?"
In response to Reply #

i mean you know disney is going to want to use these characters in their theme parks

how is this going to work?
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they'll basically just "re-skin" the existing Marvel rides.

they did it with their new Simpsons ride (used to be dr. seuss)

...rides will remain the same. Universal spokesman was quoted as confirming.

Usually the rides are contracted if the intellectual property isnt owned by the theme park owner. I can't imagine Disney allowing this, though. Especially with our tourism numbers down the theme park battle is brutal.

If THAT^ is allowed than OF COURSE there will be Jonas Brothers comics.

That was a foreshadowing that I didn't recognize off jump.

(FYI for those that don't know, Lifetime is partially owned by Disney)

first pixar now marvel

I'm one of those old school comic book heads so I've been mad at all the things and situations Marvel has been thru in the past 20 years and every timeline switch-a-roo from comic to movie storylines.

Now knowing how Disney loves to put their hands deep into the asses of any company they purchase, I know it's going to be some viewable changes but since I don't follow the comics anymore I don't to a certain degree but as far as lame attempts to do any crossover marketing with Disney/ABC & Marvel is where I hope the line is drawn and not crossed; especially with the movies Marvel has planned.

I'm very pissed at this deal. I make a little money off it, but Disney will likely wreck Marvel as a brand. I'm going to probably sell my stock in Marvel now.

If someone wants to make a comparison to Warner Bros/DC in the 1969 deal, spare me. Warner Bros is not solely catering to kids where that is pretty much Disney's bread & butter. Marvel will likely lose it's grit if comic sales or anything dips at all.

I hate disney as much as the next red-blooded pinko commie american, but they got their hands in a lot of non-kiddie stuff

http://en.wikipedia.org/wiki/List_of_assets_owned_by_Disney

They only think of Disney as the kids company.

I think I read that somewhere, but I'm not sure.

which is why I'm pissed on two fronts.

One, as a stockholder, Disney should be paying more. I get a little money out of it, but not the real rate of returns that I bought Marvel for in the first place.

Two, they are very likely to meddle in the day-to-day of Marvel. That will effect comics and everything else.

i mean, they found a way for people to hate the make a wish foundation, for cryin out loud.

http://superpunch.blogspot.com/2009/08/more-disneymarvel-mashups_31.html

http://superpunch.blogspot.com/2009/08/more-disneymarvel-mashups.html