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September 2, 2009

Disney to Acquire Comic Book Giant Marvel
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Walt Disney Company announces $4 billion deal to expand superhero lineup

The Walt Disney Company has announced an agreement to acquire Marvel
Entertainment in a $4 billion cash and stock deal. The surprise
agreement means the company that owns Mickey Mouse, could soon own the
rights to Spiderman, Iron Man and thousands of other Marvel comic strip
characters. The company that introduced the world to Mickey Mouse,
Cinderella and Snow White - is adding thousands of new characters to its
roster of heroes. The $4 billion-deal to acquire Marvel Entertainment
will mean popular superheroes such as Ironman, the Incredible Hulk and
the web-slinging Spiderman could soon become part of Disney's media
universe. Disney CEO Robert Iger predicts an action-packed future for
both. "We plan to use all of Disney's global distribution and marketing
resources to extend and increase the popularity of the Marvel brand and
its treasure trove of over 5,000 characters, and in doing that, we think
we can significantly build both businesses and make the sum of our parts
even stronger," he said. The surprise cash-and-stock deal could lead to
new rides, movies and action figures for the successful comic book
franchise. Stan Lee, the 86-year-old creator of Marvel's best-known
characters, says he is thrilled. "We started out as humble comic book
characters, then we went on to animation, toys and games and little hats
and picnic boxes and lunch boxes and so forth, and finally major motion
pictures," he says. "We are so lucky."The deal is still subject to an
antitrust review and approval from Marvel shareholders. There are also
questions about what will happen to Marvel's long-term movie deals and
its agreement with Disney rival Universal Studios and its Superhero
Island in Orlando, Florida. 

Rick Foglesong has written extensively about the Disney empire. "If
Disney is taking them away, in effect, from Universal, wow! What a
shrewd move on their part!" he said. Industry experts say the
acquisition should help improve Disney's standing among comic book
readers, who tend to be predominantly male. Disney admits it has lost
some of its footing in that demographic after pouring its resources into
female favorites such as Hannah Montana. Disney hopes the deal will add
new energy to its lineup of famous characters. It also marks Disney's
biggest acquisition since purchasing Pixar Animations for more than $7
billion in 2006.


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