August 16, 2012 |
Walt Disney Co.'s acquisition of Marvel Entertainment gave it the Hulk, Iron Man and other superheroes to fuel summer blockbusters for years to come. It also got Ike Perlmutter. Marvel's chief executive is hardly a household name. But Disney's purchase of the comic book publisher made Perlmutter one of the largest individual shareholders in the entertainment conglomerate, giving him special powers all his own. Superheroes are big business in Hollywood, accounting for three of the top-grossing films in the U.S. this year: Marvel's"The Avengers,""The Dark Knight Rises" and"The Amazing Spider-Man.
September 23, 2009 |
Walt Disney Co.'s romance with Marvel Entertainment began last February when Disney Chief Executive Bob Iger first brought up the idea of an acquisition during an otherwise innocuous business meeting with Marvel film chief David Maisel. In June, Iger made his intentions clear and the two companies embarked on a nearly three-month-long series of negotiations that involved four in-person meetings, numerous phone discussions and an intense back-and-forth over price that culminated in the $4-billion deal announced Aug. 31. The timeline of the negotiations that led to the acquisition, along with other details of the agreement, were disclosed Tuesday in a regulatory filing from Disney that led with its public offer of up to $2.12 billion in stock to help fund the deal.
November 10, 2009 |
In a continued housecleaning at Walt Disney Co., studio distribution veteran Mark Zoradi is leaving after 29 years. The departure of Zoradi, president of Disney's motion pictures group, follows the ousting of his former boss, Disney Studios Chairman Dick Cook, in September and Miramax Films President Daniel Battsek late last month. Under the direction of Disney Chief Executive Bob Iger, the Burbank studio is being remade by Cook's successor, Rich Ross, former president of Disney Channels Worldwide.
April 6, 2011 |
As Walt Disney Co. prepares to break ground on its first theme park in mainland China, the significance for the company reaches well beyond the opportunity to sell legions of Mickey Mouse-ear hats. Although much smaller than Walt Disney World in Orlando, Fla., the Shanghai park holds outsize importance for the company, because it would provide entree to a market of 1.3 billion people, 30 million of whom enter the middle class each year. When it opens in five years, the $3.7-billion tourist attraction would serve as a launching pad for Disney's broader ambitions in the region.
October 6, 2011 |
When Walt Disney Co. looked to revamp its troubled retail stores in 2008, Chief Executive Robert A. Iger sought advice from the company's largest shareholder, a foremost expert on the consumer experience. Apple Inc. co-founder Steve Jobs had lured theme-park-size crowds to his company's stores with daring architecture, no-pressure sales staffs and displays that enticed customers to come in and play with the tech world's sexiest toys. Though Disney sold its chain four years earlier, its name was still on the stores.
August 11, 2010 |
ESPN's World Cup soccer coverage and the strong box-office performance of films including Disney/Pixar Animation Studios' "Toy Story 3" helped buoy Walt Disney Co.'s bottom line in the third quarter. The media giant reported a 40% jump in earnings to $1.3 billion, up from $954 million a year earlier. Revenue reached $10 billion for the three-month period ending July 3, an increase of 16% from a year ago. In a call with analysts, Walt Disney Co. Chief Executive Robert A. Iger highlighted the film studio's summer performance, noting that it released three of the top five films worldwide in "Toy Story 3," Disney's "Alice in Wonderland" and Marvel Entertainment's "Iron Man 2. " The three pictures not only were a financial success but also have fueled other businesses such as merchandise sales, he said.