With Lucas's 1983 divorce, which coincided with the sudden dropoff in revenues from Star Wars licenses following the release of Return of the Jedi, they knew he would most likely sell the whole Graphics Group.
Per a 2006 Variety article, George Lucas put Lucasfilm's computer graphics division up on the market for $30 million in the wake of his costly divorce settlement. To keep the production company of Lucasfilm going, he was selling off parts he deemed extraneous, including the division responsible for Andre and Wally B.
In Pixar alone, he had poured $60 million of cold hard cash. Knowing he could very well end up in bankruptcy, Jobs took action. In mid-1990, he sold the hardware division for a paltry $2 million. He was sick and tired of the Pixar Computer.
He wanted to retire, none of his kids wanted to run Lucasfilm, and Disney had the money to buy and keep making content. It's really the best and only decision he could've made. And we've had plenty of great content since then, including a few of my favourite ever entries in the franchise.
The company that would one day become Pixar was called Graphics Group and was owned by Star Wars creator George Lucas. George Lucas was going through a divorce and needed to sell off some assets. Steve Jobs agreed to give George Lucas $5 million and invest another $5 million in the company.
Kathleen Kennedy FURIOUSLY SPEAKS OVER Daily Wire & South Park MOCKING Them!!!
Why did Disney buy Pixar?
Lasseter and Catmull were wary when the topic of Disney buying Pixar first came up, but Jobs asked them to give Iger a chance (based on his own experience negotiating with Iger in summer 2005 for the rights to ABC shows for the fifth-generation iPod Classic), and in turn, Iger convinced them of the sincerity of his ...
Pixar began in 1979, known as Graphics Group, owned by George Lucas, the producer of Star Wars. Then in 1982, it became Pixar Studios, owned by Disney, with John Lasseter, as chief creative officer.
A lot of people and fans are believing this news is true, but it's all a bunch of crap. Rumors like this are conjured out of thin air by websites and social media influences just to get clicks, and many of them present it as fact. There's no validity to these rumors.
Back on October 30, 2012, the Walt Disney Company made a bold leap into the world of fantasy movies with its surprise announcement that it was acquiring Lucasfilm, home of the immensely successful Star Wars brands, from its founder, George Lucas, for $4.05 billion, split evenly between stock and cash.
In some ways, the answer is obvious: both parties see an opportunity to make money. Lucas gains billions of dollars in return for a company that has developed perhaps as far as he can; Disney gains the rights to exploit some of the most valuable media properties of the last 30 years.
Pixar, motion-picture studio, from 2006 a wholly owned subsidiary of the Disney Company, that was instrumental in the development and production of computer-animated films in the late 20th and early 21st centuries.
Pixar, also referred to as Pixar Animation Studios, is an American computer animation film studio based in Emeryville, California that is a subsidiary of The Walt Disney Company.
LOS ANGELES, Jan. 24 - The Walt Disney Company said Tuesday that it would acquire Pixar Animation Studios for $7.4 billion in a stock deal that not only gives Pixar's chief executive, Steven P. Jobs, a powerful role in Hollywood but also stirs hopes for rekindling the animated storytelling tradition at Disney.
Disney acquired Lucasfilm, the production company founded by Lucas, on October 30, 2012 for a reported $4.05 billion. The agreement included the rights to all existing Star Wars films, as well as the rights to create new movies, TV shows, and other merchandise based on the brand.
The acquisition of Pixar would be beneficial to Disney due to how both companies' businesses are related. This related acquisition would lead to the formation of more synergies and hence create value through the integration of their resources and capabilities.
There would likely be major regulatory issues, and media mega mergers have a long track record of abject failure and value destruction. Apple's history suggests it stays away from large M&A, and there's little evidence Apple wants to buy Disney.
Total debt on the balance sheet as of September 2023 : $46.43 B. According to Walt Disney's latest financial reports the company's total debt is $46.43 B. A company's total debt is the sum of all current and non-current debts.
Disney is owned by many shareholders, as it's a publicly traded company. According to CNN Business News, the Vanguard Group, Inc. is the largest shareholder of Walt Disney Co. with a 7.49% stake.
Disney acquired “Toy Story” creator Pixar in 2006 for $7.4 billion. The company became the owner of the “Star Wars” and “Indiana Jones” franchises following the purchase of Lucasfilm in 2012. In August 2009, Disney bought Marvel Entertainment for $4 billion.
1986. Steve Jobs purchases the Computer Division from George Lucas and establishes the group as an independent company, “Pixar.” At this time about 40 people are employed.
By the early 2000s, when Pixar was making movies on its own, Disney was desperate to catch up. Jobs sold the company to Disney in January 2006 for $7.4 billion. After the acquisition, Jobs owned roughly 7% of Disney, making him the single largest shareholder.
