Disney Close to Acquiring Pixar

by | January 24, 2006 | Comments

According to the New York Times, Disney is close to acquiring Pixar in a stock deal worth about $7 billion. People briefed in the negotiation told the Times that the deal "could fall apart at any time."

Several crucial details are still being hammered out, but if the Pixar board approves, its animation unit will join Disney’s, with John Lasseter expected to oversee the combined unit.

Steve Job, Pixar’s CEO, will become Disney’s largest shareholder and is expected to be given a seat on the board.

Disney and Pixar currently have a distribution deal where Disney owns the rights to movies it distribute for Pixar. "Cars," scheduled for a summer release this year, is the last movie under this deal.

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