Tech & Biz

Disney Buys Marvel Entertainment for $4.24 Billion

by Amy Judd | January 2, 2010 at 12:12 pm

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Disney has finalized their acquisition of Marvel Entertainment for $4.24 billion, meaning that film hits such as Spiderman, Iron Man and over 5,000 other characters will now be under the same heading as Mickey and Minnie Mouse.

Marvel agreed to the sale on Thursday.

Marvel chief executive Isaac "Ike" Perlmutter, who owned 37 per cent of Marvel stock, supported it. He will oversee the Marvel business and report to Disney CEO Robert Iger.

There are high hopes for this combination of powerhouse companies, and the company is only expected to grow larger now.

Marvel shareholders will receive $30 per share in cash, and Disney shares closed on Thursday at $32.25. The value of Marvel shares was $54.03 each.

This was Disney's largest buy since they bought Pixar Animation for $7.4 billion in 2006.

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elvisjj

at 18:31 on January 7th, 2010

Even though this is an older story it's an important one as Disney doesn't even have a direction for themselves and now there in control of Marvel. I mean Spiderman and friends look out the Mouse now controls your destiny.