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Thursday, Mar 28, 2024

Disney Completes Pixar Purchase

It’s official. The Walt Disney Co. has announced that it has completed the acquisition of Pixar Animation Studios, the computer animation company behind such hits as “Toy Story,” “Finding Nemo,” and “The Incredibles.” The Disney acquisition includes an exchange of 2.3 Disney shares for each Pixar share. Now former Pixar Chairman and Chief Executive Officer Steven Jobs joins the Disney Board of Directors. In a prepared statement, Disney Chairman Robert Iger said that Pixar’s achievement with its films is due to a creative culture that Disney will continue to support and foster. “As we begin the next chapter, all of us at Disney are pleased to welcome the incredibly talented Pixar team to our Company to continue to create quality entertainment for audiences to enjoy around the world,” Iger said. Former Pixar President Ed Catmull is now the president of the new Pixar and Disney animation studios, reporting to Iger and Walt Disney Studios Chairman Dick Cook. Former Pixar Executive Vice President John Lasseter becomes Chief Creative Officer of the animation studios and the Principal Creative Advisor at Walt Disney Imagineering, the division that design theme park rides and attractions, reporting directly to Iger.

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