Biz Week: Disney board OKs Pixar deal by Ina Fried
Disney's board has approved a roughly $7 billion takeover of Pixar Animation Studios, Business Week reported late Monday.
On its Web site, the magazine said that Pixar CEO (and Apple Computer chief) Steve Jobs could take a seat on the Disney board. The magazine's sources said that Pixar's board still needed to give its approval for the deal.
Since Apple (and Pixar) CEO Steve Jobs will become the largest Disney shareholder -- if figures are correct, he'll control anywhere from just over 6% to a bit under 8% of the conglomerate -- he would/should become the CEO of Disney or the Chairman of the Board of Directors. If this story is correct, he'll simply be given a seat on the Board. I think it's the most appropriate action. I can't imagine Jobs deflecting any attention from Apple. Hell, I'm surprised he didn't work out a sale of Pixar much sooner. And those advocating CEO/Chairman Jobs for Disney forget one fact: he is/was an absentee owner of Pixar. And to great effect. John Lasseter was the defacto brains behind the studio. I just wonder what he'll do now. Of course, I'm guessing his stock options have made him a much, much richer man with this news so Jobs can continue to get all the glory and credit, Lasseter will stay content.
And speaking of content, one can only imagine what will be coming Apple's way. Movies, long and short, including animated and non-animated; content from TV properties ABC-TV and Disney's cable channels above and beyong "Desparate Housewives,' "Lost," and the ESPNs; and my favorite possibility The History Channel! Really, the possibilities are endless.
Posted by ronn at January 24, 2006 12:42 AM