Scott Evan’s character – closeted police officer Oliver Fish FINALLY admitted aloud to someone that he is gay! Kudos to ABC for their portrayal of a troubled young cop coming to terms with his sexuality.
Its things like this and the other gay characters that keep popping up primetime on Disney-owned ABC (honored by GLAAD for being home to 6 out of 7 major gay characters on the 2008-2009 TV season) and ABC Family (Greek, Secret Life of the American teenager – this is not my dad’s family channel) that make me breathe a BIT easier about the impending Disney buyout of Marvel Entertainment… I’m not completely comfortable about it until I hear some sort of official statement about their direction for the company.
The Walt Disney Company has set its sights on Marvel Comics. The worldwide leader in family entertainment is building on its tried-and-true strategy of gobbling up branded content. In a stock and cash transaction (60 percent cash and 40 percent stock), Disney has agreed to acquire Marvel Entertainment Inc. and its extensive portfolio of over 5,000 characters (Including the Spider-Man, the X-Men, the Fantastic Four, the Avengers and all associated friends and foes) in a 4 billion deal announced early August 31st, 2009.
Under the terms of the agreement and based on the closing price of Disney on August 28, 2009, Marvel shareholders would receive a total of $30 per share in cash plus approximately 0.745 Disney shares for each Marvel share they own. At closing, the amount of cash and stock will be adjusted if necessary so that the total value of the Disney stock issued as merger consideration based on its trading value at that time is not less than 40% of the total merger consideration. Based on the closing price of Disney stock on Friday, August 28, the transaction value is $50 per Marvel share or approximately $4 billion.
This is a smart decision for Disney. Their stable of content has definitely veered in a more girly direction with it’s focus on its beloved princesses, not to mention Hannah Montana and the HSM series. Adding the entire Marvel stable gives them thousands of instantly recognizable characters that boys have loved for generations.
Not sure how smart a decision it is for Marvel. I can see how Disney needs this. But I don’t see what Marvel REALLY gets out of it. They’ve been doing really well with their movies lately and while I don’t have international sales stats, I know I’m buying more of their books than usual – lots of new good ones out. I can’t be the only one buying them. I’m hoping this will be as good for the Marvel U in the long run as Disney claims… but I’m just not sure.
“This transaction combines Marvel’s strong global brand and world-renowned library of characters including Iron Man, Spider-Man, X-Men, Captain America, Fantastic Four and Thor with Disney’s creative skills, unparalleled global portfolio of entertainment properties, and a business structure that maximizes the value of creative properties across multiple platforms and territories,” said Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company.”
The Boards of Directors of both companies have already approved the transaction, but it is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, certain non-United States merger control regulations, effectiveness of a registration statement with respect to Disney shares issued in the transaction and other customary closing conditions. The agreement will require the approval of Marvel shareholders. Marvel was advised on the transaction by BofA Merrill Lynch.
Well at least it hopefully means MORE ACTION FIGURES! Here are some links to more in depth articles on the deal…
