Pixar buyout for $7 billion

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.

 


News source: Telegraph


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