Tuesday, January 24, 2006

Official: Disney Buys Pixar

Disney has announced today that it plans to acquire Pixar for $7.4 billion. There have been many rumors of this lately but this is the official release statement. The animation studio, owned mostly by Steve Jobs, is responsible for such hits like "The Incredibles" and "Finding Nemo." Before this announcement, Disney has distributed Pixar's films and has taken a cut. But now they want the whole chunk of the pie. Furthermore, Steve Jobs is set to earn around $3.5 billion and he will have a seat on the Disney Board.

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