Disney Close to Buying Pixar
Posted on January 23, 2006Disney is said to be in serious talks to acquire Pixar in a buyout worth $7 billion. The deal would make Steve Jobs richer and make him the largest individual shareholder of Disney stock. An L.A. Times article discusses whether Jobs could possibly fill Walt Disney's shoes.
Meanwhile, TechDirt discusses a conflict of interest for Steve Jobs, current CEO of Apple. MSNBC.com says the Disney Board of Directors is meeting to discuss the transaction. The Disney Blog is also following the story.If Disney acquires Pixar, Jobs would join the company's board of directors, own the largest individual stake and become, by far, the most recognizable face on the company's corporate roster � potentially overshadowing Chief Executive Robert Iger.
At present, "Disney doesn't have a guy who shakes the walls, a larger-than-life character like Walt," said Jeffrey S. Young, co-author of the Jobs biography "iCon Steve Jobs: The Greatest Second Act in the History of Business."
Jobs, a co-founder of Apple Computer Inc., has the brash confidence to assume that role. But if he does so, the man who once shaved his head and begged for alms in his search for enlightenment stands to inherit more than the mantle of the company's lionized founder.
People who know Jobs and analysts who have tracked his companies for years say the potential deal is notable less for what it would mean for Disney than for how it would expand the cult of Jobs.
Update 1-25-06: Disney's purchase of Pixar has been confirmed.