Disney Buys Marvel for 4 Billion

Spider-Man and Super Goofy

Wow, such crazy news! The New York Times has reported that Disney has acquired Marvel Entertainment for 4 billion dollars.

Walt Disney Company said Monday it has agreed to buy Marvel Entertainment, the company that owns the rights to such popular characters as Spider-Man and the Fantastic Four, in a cash and stock deal it valued at $4 billion. The deal, which boards of directors at both companies have approved, comes more than 10 years after Marvel was at the center of a bitter takeover battle between two feisty financiers.

“We believe that adding Marvel to Disney’s unique portfolio of brands provides significant opportunities for long-term growth and value creation,” Robert Iger, Disney’s chief executive, said in a statement announcing the deal.

“Disney is the perfect home for Marvel’s fantastic library of characters given its proven ability to expand content creation and licensing businesses,” said Ike Perlmutter, Marvel’s chief executive officer. “This is an unparalleled opportunity for Marvel to build upon its vibrant brand and character properties by accessing Disney’s tremendous global organization and infrastructure around the world.”

This is such huge news! I admit my first thought was “Oh no, I hope they don’t screw it up.”

I’m also wondering what Disney is going to do about their competitor, Universal Studios, having Marvel Superhero Island located in Orlando.

I’m sure Disney will build some kind of Superhero World at Disneyworld, now. Kids will surely love that! And think of the crossover potential in comics and movies. I think Super Goofy is ready for a little action.

Marvel Characters

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