Disney fans, pull on your Spidey Underoos. The following release from Marvel announced that the deal for the Walt Disney Company to purchase Marvel Entertainment is now complete.
Deal expected to strengthen Disney’s position as a leading global provider of high-quality branded entertainment and build long-term shareholder value.
Advancing its strategy of delivering great branded content to people around the world, Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company (NYSE:DIS) announced today that Disney has completed its acquisition of renowned character franchise company, Marvel Entertainment Inc (NYSE:MVL).
“We’re thrilled to welcome to the Disney family the talented team at Marvel,” said Iger. “We believe the creative and business potential of this combination is substantial and can help us grow both our top and bottom line, leading to a significant increase in long-term shareholder value.”
Under the terms of the agreement and based on the closing price of Disney on Thursday, December 31, Marvel shareholders will receive a total of $30 a share in cash, plus approximately 0.7452 Disney shares for each Marvel share they own.
Marvel’s assets include a library of over 5,000 characters featured in a variety of media over 70 years and businesses, including licensing, movie production and publishing.
Lots of interesting stuff to consider as Disney finds ways to mine and grow the Marvel library and talent. One question I haven’t heard answered yet is if Stan Lee will now be able to return to some of the titles he created at Marvel. Lee’s production company POW Entertainment and Disney have a multi-project deal.
Care to make any predictions on how this will work out for Disney?