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Disney Buys Marvel for $4 Billion
Posted by Robin Paulson Categories:
As if Disney didn’t own much of our childhood already, the media conglomerate has now spent an estimated $4 billion to acquire Marvel Entertainment, marking the deal as its largest since attaining Pixar in 2006.
Of the whopping $4 billion the company shelled out to obtain the comic book powerhouse, Chief Financial Officer Tom Staggs points out that any great venture is worth the price tag: “You can’t expect to pay a bargain price for premium assets. Marvel is worth more inside Disney than outside Disney.”
Click to continue reading Disney Buys Marvel for $4 Billion
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| CNN
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Lifetime Coming to Its End
Posted by K.C. Morgan Categories: Cable, News,
Some things can only last so long. A&E has just announced a deal to purchase the Lifetime Network—a deal which could herald yet another move for Project Runway.
The A&E acquisition will create few staffing changes at Lifetime Entertainment Services. A&E Television Networks is a partnership between Disney/ABC, Hearst Corp. and NBC Universal. The new merger changes only one thing: now, NBC Universal is part of the deal. Previously, Lifetime was a 50/50 partnership between Disney/ABC and Hearst. As a result of the new merger, A&E Network, Lifetime, the History Channel, Lifetime Movie Network, Bio, History International, Lifetime Real Women, History en Espanol, Military History and the Crime and Investigation Network will all be included in the new entity.
Read More | Perez Hilton
Game Crazy Parent Company Struggling
Posted by Paul Hamilton Categories: Corporate News,
Movie Gallery, the parent company for brick-and-mortar game retailer/renter (and one of the few remaining chain competitors to GameStop/EB) received an extension on its $900 million restructuring loan as it continues to struggle in an increasingly difficult market. Movie Gallery also owns Hollywood Video and and eponymous stores. CEO Joe Malugen said, “Despite the challenging market conditions for Movie Gallery and the entire rental industry, we are continuing to work with our lenders and our outside advisors to help address the Company’s current financial situation. We plan to continue to operate the Company without interruption as we work through this challenging period.”
So clearly the word of the day is “challenging” but the company seems to be angling toward an acquisition or merger to overcome those challenges. So far they have had to close stores and reduce staff to try and meet financial obligations, and this new extension has given them until August 27th before the loan is considered defaulted.
Read More | CNN Money via Joystiq
Corel to buy InterVideo
Posted by Brian Viele Categories: Corporate News, Software,
Pending shareholder and regulatory approval, Corel plans to acquire InterVideo for a cool $196,000,000.00. The deal will include InterVideo’s interest in Ulead as well, giving Corel the rights to WinDVD, Ulead Photo Impact, Ulead Video Studio, Ulead DVD Movie Factory and others.
The acquisition is intended to help increase revenue and earnings growth through InterVideo’s OEM PC contracts, but should also benefit the customer putting InterVideo’s talented graphic design products together with Corel’s Paint Shop Pro. This will definitely lead to the availability of some great software packages.
Corel plans to pay for InterVideo’s assets using cash reserves, debt financing and Intervideo’s cash. The acquisition is expected to close towards the end of the year.
Read More | Yahoo!
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