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| Version 0 | Version 1 |
|---|---|
| Disney to buy Marvel in $4bn deal | Disney to buy Marvel in $4bn deal |
| (30 minutes later) | |
| Entertainment giant Walt Disney is to buy Marvel Entertainment in a shares and cash deal valued at $4bn (£2.5bn). | Entertainment giant Walt Disney is to buy Marvel Entertainment in a shares and cash deal valued at $4bn (£2.5bn). |
| The deal means Disney will take over ownership of 5,000 Marvel characters, such as Spider-Man and the X-Men. | The deal means Disney will take over ownership of 5,000 Marvel characters, such as Spider-Man and the X-Men. |
| Marvel shareholders will get $30 per share in cash plus 0.745 Disney shares for every Marvel share owned. | Marvel shareholders will get $30 per share in cash plus 0.745 Disney shares for every Marvel share owned. |
| The boards of Disney and Marvel have both approved the deal, which now needs the backing of Marvel shareholders and competition authorities. | The boards of Disney and Marvel have both approved the deal, which now needs the backing of Marvel shareholders and competition authorities. |
| Marvel shares were ahead $10.17, or 26%, to $48.82 shortly after the market opened. Disney shares fell 47 cents, or 1.8%, to $26.37. | |
| 'Great assets' | 'Great assets' |
| "We believe that adding Marvel to Disney's unique portfolio of brands provides significant opportunities for long-term growth and value creation," Disney president and chief executive Robert Iger said. | "We believe that adding Marvel to Disney's unique portfolio of brands provides significant opportunities for long-term growth and value creation," Disney president and chief executive Robert Iger said. |
| "We are pleased to bring this talent and these great assets to Disney." | "We are pleased to bring this talent and these great assets to Disney." |
| Other Marvel's characters include Captain America, the Fantastic Four and Thor. | Other Marvel's characters include Captain America, the Fantastic Four and Thor. |
| "Disney is the perfect home for Marvel's fantastic library of characters given its proven ability to expand content creation and licensing businesses," said Marvel chief executive Ike Perlmutter. | "Disney is the perfect home for Marvel's fantastic library of characters given its proven ability to expand content creation and licensing businesses," said Marvel chief executive Ike Perlmutter. |
| "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," he added. | "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," he added. |
| 'Good deal' | 'Good deal' |
| Arvind Bhatia, an analyst at Sterne, Agee and Leach, said that the deal appeared to be a "win-win situation for both companies". | Arvind Bhatia, an analyst at Sterne, Agee and Leach, said that the deal appeared to be a "win-win situation for both companies". |
| "They [Marvel shareholders] are getting a good deal in my opinion. The CEO of the company, Isaac Perlmutter, is also the largest shareholder of the company. | "They [Marvel shareholders] are getting a good deal in my opinion. The CEO of the company, Isaac Perlmutter, is also the largest shareholder of the company. |
| "From that standpoint, we think the chances of this deal going through are pretty high." | "From that standpoint, we think the chances of this deal going through are pretty high." |
| Last month, Walt Disney reported a fall in profits of more than a quarter as the downturn hit revenue at its film and theme park divisions. | Last month, Walt Disney reported a fall in profits of more than a quarter as the downturn hit revenue at its film and theme park divisions. |
| Net profit between April and June came in at $954m (£579m), down 26% on the $1.28bn the entertainment giant made in the same period last year. | Net profit between April and June came in at $954m (£579m), down 26% on the $1.28bn the entertainment giant made in the same period last year. |
| Revenues of $8.6bn were down 7% from the $9.2bn recorded a year before. | Revenues of $8.6bn were down 7% from the $9.2bn recorded a year before. |