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MediaBuyerPlanner: In a deal to help restore Walt Disney Company’s image as a leader in animated film, Pixar Animation Studios’ shareholders agreed Friday to Disney’s acquisition of the company for $7.4 billion in stock – making Pixar chief executive Steve Jobs the largest Disney shareholder, with a seven percent stake – writes The New York Times.
Wanting to preserve the creative culture behind Pixar’s success, the company will keep its brand name and continue its operations in Emeryville, CA. John A. Lasseter, Pixar’s former executive vice president, will serve as chief creative officer of the animation studios and principal creative adviser for Disney’s theme park division, Walt Disney Imagineering. Pixar’s president, Edwin E. Catmull, will become the president of the combined Disney and Pixar animation studios.
The companies have worked together on projects including Toy Story, Finding Nemo, The Incredibles and Cars – which is the seventh and final film to be created under the old distribution agreement, and will be released on June 9.