Marvel stockholders approve Disney buyout

by Leah Zanolla
Jan 2, 2010

As expected, Marvel shareholders have approved the sale of Marvel Entertainment Inc. to The Walt Disney Co. The $4.24 billion sale was completed on Thursday and will give Disney the rights to over 5,000 Marvel characters.

Chief executive Isaac Perlmutter will still oversee Marvel, but will now report to his new boss, Disney CEO Robert Iger.

According to the Orlando Sentinel, Marvel shareholders received $30 cash per share, plus 0.7452 Disney shares for every Marvel share they owned. This brings the cost of each Marvel share to $54.03 each.

In a related story, Disney has purchased a 10 percent share of POW! Entertainment Inc. for $2.5 million. POW! is run by Stan Lee, best known for co-creating Spider Man. Bob Chapek, president of worldwide distribution for Walt Disney Studios, said that the relationship with POW! has been extended partly because of Lee's "knowledge and familiarity of the Marvel Universe."

• News Source
• Subscribe to this News Feed
• Last Updated: Oct 12, 2011 - 10:50:48 AM