Spider-Man and Mickey Mouse are about to become step-brothers.
The Walt Disney Co. is in the process of buying Marvel Entertainment for $4 billion in cash and stock. The deal would give the Mouse House ownership of Marvel's 5,000 superhero characters.
If Disney doesn’t neuter Marvel's stable of superheroes — a colorful and expanding universe with deep pulp roots and characters that have proven to be extremely popular over the years — the deal could help the comic book giant extend its recent Hollywood success and expand its overseas operations.
"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, Disney’s president and CEO, in a statement Monday.
The boards of the two companies have approved the deal, which must clear antitrust review and gain approval from Marvel's shareholders before being completed. Disney would pay owners of Marvel stock $30 a share in cash, plus 0.745 Disney shares for every Marvel share they own.
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Based on Friday's closing price for Disney stock, the transaction value is $50 per Marvel share, Disney said. Marvel shares rose to $48.70 in premarket trading Monday on news of the sale, according to Reuters, while Disney shares dropped 3 percent.
Visitors to Disney-owned theme parks could soon see characters like Spider-Man, the Fantastic Four and the Incredible Hulk roaming the grounds or could find themselves soaring through the air on an Iron Man ride.
"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 CEO Ike Perlmutter in the press release. "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." Perlmutter will continue to oversee Marvel's operations and work to integrate the comic book characters into Disney’s business.
The deal includes Marvel Studios, the comic book giant's increasingly successful movie production arm. After a decade of producing movies in partnership with other studios, Marvel Studios released its first independently produced film last year: Iron Man starred Robert Downey Jr. as billionaire weapons dealer Tony Stark, who creates an weaponized suit of armor that makes him a one-man army.
The movie, which raised the bar for films based on Marvel's comic book properties, launched Hollywood's blockbuster superhero summer of 2008. Marvel Studios is currently working on a sequel, Iron Man 2, which the company showed off at this year's Comic-Con International in San Diego. Other Marvel Studios pictures in development include Thor and The First Avenger: Captain America, both slated for release in 2011, and The Avengers, due in 2012.
Reactions to news of the deal lit up the tweetosphere Monday, with some Marvel fans expressing excitement and others condemning the purchase of Marvel by the family-friendly Disney.
"A Pixar-Marvel film would blow my head clean off," tweeted Michael Borkowski. "Please make it happen."
Tons of Marvel-Disney crossover jokes poured forth, with fans pointing out that Donald Duck and Howard the Duck might now be related.
Said K. T. Stevenson: "Disney buys Marvel. The first X-Mouse comic I see will make me hurl."
Marvel Comics Editor in Chief Joe Quesada also took to Twitter in an effort to reassure comics fans about the deal.
"Welcome to this moment in history," Quesada tweeted Monday morning. "Everyone relax, this is incredible news and all is well in the Marvel U…. Everybody take a deep breath, all your favorite comics remain unchanged and Tom Brevoort remains grouchy."
Quesada pointed to the creative and business success that followed Disney's purchase of Pixar for evidence that all is well within the House of Ideas.
"If you're familiar with the Disney/Pixar relationship, then you'll understand why this is a new dawn for Marvel and the comics industry," he said.
Meanwhile, acclaimed comics writer Warren Ellis, who has worked for Marvel in the past, cracked wise about the pending deal.
"Why is everyone at Marvel making quacking noises today?" Ellis tweeted. "It's horrible."
Image courtesy Marvel Comics.
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