Monday, August 31, 2009

Disney to Buy Marvel for $4 Billion

Holy Humongous, Spider Man! I didn't see this one coming!

News reports are coming in fast and furious that Disney plans to buy Marvel for $4 billion!

The deal would give Disney some content that appeals more to boys, a market it has been looking to develop, Iger said. Disney XD, a television station and video game unit, already had a deal with Marvel to use some of the comic book company's action heroes in its content.

"Disney is the perfect home for Marvel's fantastic library of characters given its proven ability to expand content creation and licensing businesses," said Marvel Chief Executive Ike Perlmutter. "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."

Disney Chief Financial Officer Tom Staggs noted that Marvel owns the rights to many action-hero characters that are not widely known, which Disney anticipates bringing to the forefront for future movies or TV shows should the deal go through.

So, they could find creative financing in this tough economic times to buy something like that? Amazing! Why can't they do something similar to upgrade the parks and produce less cuts? Don't get me wrong, I think this is an interesting move by Disney. But the parks are suffering right now due to all these cutbacks. I wish they had done creative financing and help the parks a bit.


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