Disney Eats Marvel – Update 2
Walt Disney reached an agreement to purchase Marvel Comics for a combined cash and stock deal valued today at $4 billion. According to a report at Marketwatch, the acquisition was approved by both Boards of Directors over the weekend and is subject to SEC approval.
In a statement, Disney Chief Executive Bob Iger said “adding Marvel to Disney’s unique portfolio of brands provides significant opportunities for long-term growth and value creation.”
Those holding Marvel stock are expected to receive $30 per share in addition to approximately 0.745 Disney shares for each Marvel share they own.
A shareholders’ conference call was scheduled for later today and no doubt Marvel will have their own comments for the press. The deal is not expected to close for some time and how the integration will work, including the comics properties owned by Disney and Marvel will be announced in the future. In addition to Disney’s own characters, they purchased the assets of CrossGen some years ago and have done little with them, much I the same way as Marvel has yet to fully exploit the Malibu Comics characters they acquired in the 1990s.
Disney has been moving more into the graphic novel field through their publishing division, notably announcing works based on their forthcoming film The Prince of Persia, based on the video game. One can only expect Disney to entrust projects like this and others to Marvel.
Isaac Perlmutter, Marvel’s CEO, will continue to oversee the Marvel properties and is expected to be an architect of the integration along with Disney execs.