Walt Disney Co.

Walt Disney Co. agreed to acquire Marvel Entertainment Inc. for about $4 billion in cash and stock -- a deal that broke 2009's M&A calm. Read more about Disney's deals over the past couple years below.

2009

Sept. 23: Disney filing details Marvel merger talks: In an S-4 filing on Tuesday, Walt Disney Co. (NYSE:DIS) gave its narrative, or "Background of the Merger," for the events that led to its $4 billion acquisition of New York's Marvel Entertainment Inc. (NYSE:MVL). It also listed risk factors, benefits and other aspects regarding the deal. - Baz Hiralal

Sept. 11: Marvel advisers are no comics: Marvel Entertainment Inc.--and its previous corporate incarnations -- has aspired to replicate Walt Disney Co.'s ability to market its intellectual property and merchandise since the 1990s, when Ronald Perelman controlled the company. Some of the advisers on Disney's $4 billion acquisition of the comic book and film producer have ties to the buyer and seller that extend at least that long.

The Bank of America Merrill Lynch team advising Marvel includes former Marvel exec Jeffrey Kaplan, Ben Braun and Andre Pontual. Merrill Lynch & Co. took Marvel public for Perelman in 1991 and advised the company on its acquisition of trading card company Fleer Corp. a year later. Shortly after the Fleer purchase, Merrill's Kaplan became the chief in-house dealmaker for what was then Marvel Entertainment Group. He stayed at the company until 1997, when he returned to Merrill. - Chris Nolter

Sept. 10: Batman, Superman power up with DC Entertainment: Now that their top rivals have gained a powerful new ally, Superman, Batman, Wonder Woman and the rest of characters in the DC Comics library are making moves to extend their own super-powered presence.

Time Warner Co.'s Warner Bros. Entertainment has formed a new company, DC Entertainment Inc., to focus on strategically integrating the DC Comics business throughout the parent's extensive content and distribution businesses. The move comes in reaction to the $4 billion acquisition of DC's chief rival Marvel Entertainment Inc. by the Walt Disney Co. last week. - George White

Sept. 8: Disney sees potential in Wideload Games: The Walt Disney Co. (NYSE:DIS) opened its wallet once again, acquiring video game business Wideload Games on Monday for an undisclosed price. Disney hopes the addition will build on its $4 billion purchase of comic book company Marvel Entertainment Inc., which has a vault of around 5,000 characters it can showcase in new video games. (Subscribers to The Deal Pipeline may read more here.) - Gerald Magpily

Sept. 8: For Disney, Marvel is more Hensen than Pixar: Since the Walt Disney Co. (NYSE:DIS) announced its deal to acquire Marvel Entertainment Inc. (NYSE:MVL) for $4 billion last week, the deal has been most heavily compared to Disney's $7.4 billion buyout of Pixar Animation Studios Inc. in 2006. However, the pairing of Disney and Marvel may actually end up looking more like Disney's purchase of the Jim Hensen Co. back in February 2004 for a reported $90 million. (The Deal Pipeline subscribers can see the full stories on Marvel here and Hensen here.)

The reason: Pixar's characters were already thoroughly woven into the Mouse House's movie distribution, merchandising and theme parks through the partnership the two companies already had. That's a different situation than the one for both Marvel and Hensen, which Disney bought under former CEO Micheal Eisner. - George White

Sept. 1: Marvel licensing: Even bigger than you thought: It's a good guess that the most complicated part of the due diligence for Walt Disney Co.'s (NYSE:DIS) acquisition of Marvel Entertainment Inc. (NYSE:MVL) involved Marvel's extensive licensing agreements. Initial accounts of the $4 billion deal (The Deal Pipeline subscribers will find ours here) have noted Marvel's various film deals (for example, Spider-Man to Sony Corp.) and theme-park pacts, especially the one that puts Marvel characters in Universal Studios in Orlando, Fla.

But that's only part of the picture. Since emerging from bankruptcy in 1998, Marvel has become one of the entertainment world's most prolific licensors, with deals in myriad platforms and geographies. We published a big article on the operation in 2005, and since then Marvel has continued to add to its web of relationships.- Kenneth Klee

Sept. 1: Debt ratings review: Disney, Allied, WPP: Walt Disney Co. (NYSE:DIS) paid a hefty price of $4 billion for Marvel Entertainment Inc. (NYSE:MVL) on Monday. The price tag was a bit too hefty for the tastes of Standard & Poor's, so much so that the credit rating agency put its "A" long-term and "A-1" short-term ratings on Disney on its creditwatch negative list, meaning S&P could downgrade the media conglomerate when the merger is finalized. - Gerald Magpily

Sept. 1: Marvel faces $140M breakup fee: If Marvel Entertainment Inc. finds a more appealing suitor or cancels its $4 billion sale to Walt Disney Co., the comic book titan could be on the hook for a $140 million termination fee, according to a Tuesday, Sept. 1, regulatory filing. Disney announced the purchase of the New York comic publisher and movie studio on Aug. 31. - Chris Nolter

Aug. 31: Disney breaks M&A calm with Marvel deal: Walt Disney Co. executives are hoping that Spider-Man, Iron Man, the X-Men and a cast of more than 5,000 Marvel Entertainment Inc. characters can match the success that the media house had with the acquisition of Pixar Animation Studios Inc. CEO Bob Iger referred to Marvel's "treasure trove" of characters and stories on a Monday conference call announcing the $4 billion transaction. Disney aims to push Marvel's characters through its global licensing, sales and distribution networks, and increase the profitability of the franchises. - Gerald Magpily

June 5: Disney, NBC-U and Hearst considering JV: The Walt Disney Co. (NYSE:DIS), NBC-Universal and Hearst Corp. are reportedly discussing a plan to combine their jointly owned cable holdings in a single venture. According to Broadcasting & Cable, the media companies are considering spinning off their stakes in A&E Television Networks -- which includes A&E, the History Channel, Bio, Military History and other channels -- and Lifetime into the new entity. - Suzanne Stevens

May 19: Mickey coming to the D.C. area? Walt Disney Co. (NYSE:DIS) has paid $11 million for a 15-acre swath of land overlooking the Potomac River in the D.C. area's sprawling National Harbor development. The investment, as the Washington Post puts it, is "a shot in the arm for a project that opened with big ambitions a year ago, only to run headfirst into one of the sharpest economic declines in decades." - Carolyn Murphy

April 30: Disney buys into Hulu, scares cable: More than a year ago, Hulu.com launched with much fanfare, and Dealscape wondered if the video Web site would take off. Apparently, Hulu has not only caught on, but it skyrocketed in March into one of the top-three U.S. video properties for the first time, with 380 million videos viewed, according to the latest report from comScore Video Metrix. Maybe that's what propelled Walt Disney Co. (NYSE:DIS) to  acquire a stake in Hulu.com Thursday, joining NBC Universal, News Corp. (NYSE:NWS) and Providence Equity Partners as partners in a joint venture stake in the video site. - Gerald Magpily

April 1: Disney, too, is acquiring as it restructures: Wednesday's move by Walt Disney Co. (NYSE:DIS) to buy some family-oriented Internet properties from Canada's Kaboose Inc. confirms Disney's place on a list we've been compiling: companies that are spending the recession adding in some areas even as they subtract in others. It's interesting (and also encouraging, if you're looking for signs of life in the economy)  to watch these strategic adjustments unfold -- at Disney and also at IBM Corp. (NYSE:IBM), Caterpillar Inc. (NYSE:CAT) and other companies as well. - Kenneth Klee

March 30: Disney's new Web strategy may include YouTube: Walt Disney Co. is reportedly close to striking a deal to make its content available through Google Inc.'s YouTube video portal. According to paidContent.org, the transaction would trump an earlier deal in the works with Hulu.com, in which Disney was reportedly negotiating an equity stake. Under terms of the Google deal, programming from ABC and Disney would be available on YouTube on a pay-for-play arrangement. - Gerald Magpily 

March 27: Disney integration costing more 'cast member' jobs: Walt Disney Co. (NYSE:DIS) cut more jobs on Friday at its theme parks amid a companywide restructuring. Reports indicate most of the cuts are among salaried workers, known internally as backstage cast members, and estimates put the number of jobs eliminated at between 400 and 800. The layoffs follow a voluntary buyout offered in January to more than 600 executives. - Suzanne Stevens

Feb. 23: Russia's new anti-monopoly push sinks Disney JV: Russia's decision to block a Walt Disney Co. joint venture just four months after denying Google Inc.'s bid for a Russian online advertising company could give pause to other U.S. firms looking to enter the market. In the latest case, the Federal Anti-monopoly Service of Russia denied Disney's planned joint venture with Media-One Holdings Ltd. The companies had applied to launch a free family entertainment channel on 30 Media-One-owned television stations in early 2009. The agency said it rejected the application after receiving "false" information about the JV from the companies. In blocking Google's acquisition of Russia-based advertiser Begun, the agency cited inadequate paperwork. - Suzanne Stevens

Continue reading below

2008

Dec. 17: Disney taking its family programming to Russia: The Walt Disney Co. has announced a joint venture with Media-One Holdings Ltd. to launch a family entertainment channel on 30 Media-One-owned television stations in Russia. Slated to launch in early 2009, the new channel will air popular Disney programs and original Russian programming. In addition to a cash investment, Disney, which will own 49% of the venture, will contribute marketing, advertising and content acquisition expertise. Media-One will contribute its broadcast stations and knowledge of the local market. And as majority owner, Media-One will also appoint a majority of the board of directors. - Suzanne Stevens

Sept. 23: Netflix adds 'Hannah Montana' and others to its download ecosystem: Netflix Inc. continues to grow its Web of partners to facilitate the viewing of content online. While the company makes its money delivering DVDs, it has been building its video-streaming business that allows subscribers to download and view movies and television programs on their computers or mobile devices. Netflix on Tuesday announced it had signed deals with CBS Corp. and Walt Disney Co. to boost its library of online content. The deals will allow Netflix users to download shows including "Hannah Montana" and "CSI" a day after they air on television and to view them commercial-free. - Suzanne Stevens

July 30: Reuters: Disney close to China theme park, media deal: If a Tuesday report from Reuters has it right, sometime after the Beijing Olympics closing ceremonies on Aug. 24, Walt Disney Co. will be able to announce a far-reaching China deal that includes a theme park in Shanghai plus unprecedented access to China's movie and TV markets. - Kenneth Klee

June 23: Movies.com deal boosts Fandango in news, ad sales: Promising more in-depth news, celebrity interviews and movie news, entertainment news site Movies.com is being bought by ticket seller Fandango.com from Walt Disney Internet Group. Los Angeles-based Fandango.com and Movie.com were launched in 2000 and claim little audience overlap among their respective 6.3 million and 1.9 million monthly unique visitors (numbers culled by Nielsen/NetRatings). The deal should give Fandango a little breathing room from its main competitor Movietickets.com. - Baz Hiralal

June 4: Disney bulks up online holdings: Disney is reportedly buying two companies: Fanlib and DigiSynd, paidContent is reporting. Fanlib is a fan fiction community site that raised about $3 million from HIG Ventures in 2006. DigiSynd is an online video startup. These deals follow other online business acquisitions including the gaming site Gamestar and the social networking site Club Penguin. - Maria Woehr

April 8: Hi-ho hi-ho, it's Disney's dealflow: The Walt Disney Co. continues to expand its footprint in Asia. The company's Disney Interactive Studios has reportedly reached a deal to acquire the Chinese company Gamestar. That deal follows news that Disney's Internet Group had reached a deal with China's Shanda Interactive Entertainment, with whom it's collaborated since 2006, to launch Disney-themed Internet-based video games in the country. - Suzanne Stevens

March 20: Retail outlets headed back to Disney:The Walt Disney Co. confirmed Thursday that it's in advanced discussions with the Children's Place Retail Stores Inc. to reacquire ownership of a portion of the Disney Store chain. Children's Place got Disney's retail store chain in the U.S. and Canada in October 2004 for undisclosed terms. The 335 Disney stores picked up by the Secaucus, N.J.-based acquirer were added to the 904 Children's Place stores the company also owns and operates. - Richard Morgan

March 6: Steamboat, Morgan Stanley back mashup software maker: Mashup software maker Kapow Technologies has landed $11.6 million in private funding in a Series C round led by Walt Disney Co.'s Steamboat Ventures and Morgan Stanley's Strategic Investments Group. - Alain Sherter

2007

Dec. 11: Disney invests in three digital media startups: Steamboat Ventures, the investment arm of the Walt Disney Co., is sinking more money in Internet startups. The Los Angeles venture unit on Monday was the sole investor in a $6 million round for rich-media content delivery network EdgeCast Networks Inc. and in an disclosed round in Scrapblog Inc., a Web-based service for creating and sharing multimedia scrapbooks online. Steamboat also participated in a $20 million funding for Chinese video-sharing site 56.com.

Nov. 28: Disney planning Internet acquisitionsNews from Tech Crunch about digital doings at Walt Disney Co.: The Mouse House has formed a group within its corporate strategy function that expects to source 20 deals in the Internet sector over the next two years. The group will look for "very early-stage deals," Tech Crunch says. - Baz Hiralal

Aug. 1: Disney buys Club Penguin; virtual world buying frenzy begins: Disney has agreed today to purchase Club Penguin for $350 million in cash. The children's virtual world operator has the possibility to earn an additional $350 million in earnouts if it hits certain performance targets. Club Penguin is based in Canada and received no venture capital financing.

March 19: The Deal on deck: FCC set to clear Disney radio sale: After more than a year under review by the Federal Communications Commission, the $2.7 billion spinoff of Walt Disney Co.'s radio group is set to win the agency's approval Thursday.   

Visit the complete Dealwatch Archive

Post a comment

Name:

Email Address:

URL:

Remember personal info?

Comments: (you may use HTML tags for style)

Please only click "Post" once. It may take a few moments to process.