Disney to buy Marvel for $4 billion
REUTERS
August 31, 2009
NEW YORK (Reuters) - Walt Disney Co said on Monday it plans to buy Marvel Entertainment Inc for $4 billion in a deal that would add characters like Iron Man, Spider-Man and the Fantastic Four to its entertainment empire.
Disney is striking the biggest media deal of the year so far -- one that will unite the Incredible Hulk and Mickey Mouse -- at a time when the media business is struggling to cope with spending cutbacks by both consumers and advertisers.
Marvel, however, has a stable of wildly popular characters that it has brought to the big screen in home-run films like "Iron Man." A sequel, "Iron Man 2" is due to hit the theaters next year, while "Thor," "Spider-Man 4" and the first "Avenger" movie are slated for a 2011 release.
For Disney, movies like those should help address a key area of concern among investors: How it can better reach more young males.
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