UPDATE: CBR has a breakdown of the conference call.
UPDATE: The Hollywood Reporter has a story with comments from Diseny head Bob Iger: Basically, Marvel’s current movie deals — including five more pictures with Paramount — will stay in place. Pixar’s John Lasseter met with Marvel top brass recently – the deal began to fall into place about two months ago — and it’s predicted that “Sparks will fly.” In a good way.
UPDATE: The New York Times suggests the obvious: We’ll soon be seeing Marvel’s characters at Disney Theme parks, and the story also underscores the holes Disney has to plug in:
The acquisition comes as Disney, with its vast theme park operations and television advertising business, has been struggling because of a lack of hit DVDs, soft advertising sales at ABC and drooping consumer spending at theme parks. Disney’s profit in the third quarter, which ended June 27, dropped 26 percent.
Over all, Disney’s net income fell to $954 million, or 51 cents a share, from $1.28 billion, or 66 cents a share, in the year-ago period. Revenue fell 7 percent, to $8.6 billion. Earnings per share for the current quarter included a one-cent restructuring charge related to an accounting gain.
UPDATE: Kingdom Comics’ Christian Beranek has issued a “No Comment” Statement.
Joe Quesada twitters this morning:
G’ morning, Marvel U! Welcome to this moment in history. Everyone relax, this is incredible news and all is well in the Marvel U.
I haven’t seen this much excitement in the Marvel halls since… well, ever!
Everybody take a deep breath, all your favorite comics remain unchanged and Tom Brevoort remains grouchy
If you’re familiar with the Disney/Pixar relationship, then you’ll understand why this is a new dawn for Marvel and the comics industry.
It feels like Christmas morning.
Update: Marvel Stock prices jumped 25% to $48 after the opening bell.
Building on its strategy of delivering quality branded content to people around the world, The Walt Disney Company /quotes/comstock/13*!dis/quotes/nls/dis (DIS 26.24, -0.60, -2.24%) has agreed to acquire Marvel Entertainment, Inc. /quotes/comstock/13*!mvl/quotes/nls/mvl (MVL 48.73, +10.08, +26.08%) 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.
Marvel freelancers are being told to call either C.B. Cebulski or David Bogart to answer questions .
We’ll keep updating this post with news and links.
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