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Walt Disney Co has revealed on Monday that it will be acquiring Marvel Entertainment for $4 billion. This will power the entertainment giant to add more powerful members like Spider-Man, the X-Men, The Incredible Hulk and The Fabulous Four to its current squad of Mickey Mouse and Donald Duck.
In a statement, Disney chief executive Bob Iger said that "adding Marvel to Disney's unique portfolio of brands provides significant opportunities for long-term growth and value creation."
"We are pleased to bring this talent and these great assets to Disney”, he said.
According to the deal, a total of $30 per share in cash plus approximately 0.745 Disney shares for each Marvel share will be provided for the Marvel shareholders.
Disney will acquire the rights of the 5,000 Marvel characters, which have more charm at the box office than Disney’s Mickey Mouse and others. The three Spider-Man movies alone have generated some $2.5 billion in worldwide box office receipts.
The Marvel deal empowers Disney for connecting with teenage boys.
"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 chief executive Ike Perlmutter.
"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," he added.
