|January 24th, 2006, 11:54 AM||#1|
I Ride a Bike
Join Date: 11-07-05
Location: Ann Arbor, Michigan
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Pixar buyout for $7 billion
all i have to say is WOW, $7billion. Interesting enough, this would make Steve Jobs the largest shareholder of Disney Stock.
Disney also owns ABC and a slue of cable channels too.
On Tuesday, board members for Pixar Animation Studios will meet to approve a $7 billion buyout by Disney.
The buyout will make Steve Jobs, the company's chief executive, around $3.5 billion and the single largest shareholder in Disney. Jobs, who co-founded Pixar in 1986, is also the chief executive of Apple Computer, Inc.
In the last few years Disney has failed to produce an animated hit of its own; however, since 1995, both Pixar and Disney have made six films together, including Toy Story, which has grossed the companies more than $3.2 billion.
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