Two public media companies who have made big money from cartoons announced a huge deal today.
The Walt Disney Co. (DIS) announced today that it will acquire Marvel Entertainment Inc. (MVL) — including its portfolio of more than 5,000 characters — for $4 billion in stock and cash. Marvel shareholders will receive $30 in cash per share plus about 0.745 in Disney shares, the companies said.
In a conference call about the deal this morning, Disney CEO Robert Iger said the deal would help build shareholder value and strengthen Disney’s position worldwide. Iger said the deal should be completed by the end of 2009.
Under the terms of the deal, Marvel CEO Ike Perlmutter will continue to oversee his company’s properties and will work with Disney to integrate the brands into the new company.
Full release after the jump