The Comic Book Rack: BREAKING NEWS: Wolverine meets Goofy?
It could happen. What was merely a “What If?” in the minds of fans worldwide is now a reality.
It’s not done yet and with many aquistions, this could blow up in a hot minute, but right now it seems all systems are a definite go. And for those who look at this and say, “WTF”? Take a good look at the possibilities:
1) Disney gets to use Marvel characters and vice versa. Why is this a good thing? Have you ever read a Disney comic? Trust me, it’s actually painful. Now you have the stable of Marvel writers and artitsts at your disposal. Disney comics might be a major commodity this time next year. Marvel animation gets to use Disney characters. Also Disney television animation as of late have been weak (to be kind) while Marvel Animation has been on fire. Both get to team up and bring quality animation to our screens.
2) While Marvel live action movies are no joke, most of their animation stuff goes direct to DVD. Now we can get a Marvel/Disney/Pixar X-Men movie. A real one. A true, kick-ass one. Or better yet – here’s one for you – The Incredibles vs. The Fantastic Four. Oh yeah, it can happen…
3) Marvel’s marketing is second to none. Disney’s brand name is legendary. Put them together and you have a certified monster on your hands. Movies, merchandising, graphic novels, video games – the possibilites are endless…
4) The characters!!! Imagine the team-ups? That don’t float your boat? Really? Fantasia using Mephisto doesn’t sound cool to you? A serious look at Peter Pan as a kick ass machine and Captain Hook as a REAL villian doesn’t appeal to you? Yeah, think about it….
After the break – the press release….
Burbank, CA and New York, NY, August 31, 2009 —Building on its strategy of delivering quality branded content to people around the world, The Walt Disney Company (NYSE:DIS) has agreed to acquire Marvel Entertainment, Inc. (NYSE:MVL) 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.
“This transaction combines Marvel’s strong global brand and world-renowned library of characters including Iron Man, Spider-Man, X-Men, Captain America, Fantastic Four and Thor with Disney’s creative skills, unparalleled global portfolio of entertainment properties, and a business structure that maximizes the value of creative properties across multiple platforms and territories,” said Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company. “Ike Perlmutter and his team have done an impressive job of nurturing these properties and have created significant value. We are pleased to bring this talent and these great assets to Disney.”
“We believe that adding Marvel to Disney’s unique portfolio of brands provides significant opportunities for long-term growth and value creation,” Iger said.
“Disney is the perfect home for Marvel’s fantastic library of characters given its proven ability to expand content creation and licensing businesses,” said Ike Perlmutter, Marvel’s Chief Executive Officer. “This is an unparalleled opportunity for Marvel to build upon its vibrant brand and character properties by accessing Disney’s tremendous global organization and infrastructure around the world.”
Under the deal, Disney will acquire ownership of Marvel including its more than 5,000 Marvel characters. Mr. Perlmutter will oversee the Marvel properties, and will work directly with Disney’s global lines of business to build and further integrate Marvel’s properties.
The Boards of Directors of Disney and Marvel have each approved the transaction, which is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, certain non-United States merger control regulations, effectiveness of a registration statement with respect to Disney shares issued in the transaction and other customary closing conditions. The agreement will require the approval of Marvel shareholders. Marvel was advised on the transaction by BofA Merrill Lynch.