Pixar bought for $7 billion

The famous digital animations company, Pixar Animation Studios will be purchased by Disney for $7 billion in stock. The board of Pixar meets today to approve the Disney takeover. Pixar was created by Steve Jobs, the current CEO of Apple Corporation in 1986 when he bought the animation division of Lucasfilm (owned by Star Wars creator, George Lucas) for a mere $10 million. Since 1986, Pixar has produced movies such as Toy Story, Finding Nemo, The Incredibles, A Bug’s Life, and Monsters, Inc. This takeover by Disney will make Steve Jobs the largest Disney shareholder with a total value of $3.5 billion. With the price being 25.52 at yesterday’s closing – that means he’ll receive over 137 million shares of Disney stock.

Source: Neowin.net – Pixar buyout for $7 billion

[tags]disney, pixar, animation, buyout, lucasfilm, jobs, steve jobs, apple[/tags]

James Burke
Frisco, TX