In a Bold Move, Disney is Buying Comic Giant Marvel

The Walt Disney Company made waves yesterday, and not for a new groundbreaking animated movie or a new release of an old classic. Instead, the popular entertainment company reached a deal with Marvel Entertainment, Inc. to buy the comic company for $4 billion. The move will bring Iron Man, Spiderman and other Marvel classics under the Disney umbrella, further enhancing an already chockfull cadre of comic characters. The deal, which was for cash and stock, is likely to lead to a host of new rides, movies, clothing and other merchandise as the Disney machine gets behind the roughly 5,000 characters featured in Marvel comics.

Disney CEO Robert Iger told financial analysts, "’Sparks will fly’ is the expression that comes to mind." Stan Lee, the man who co-created Spiderman and other classic Marvel characters, was happy at the news, noting, "I love both companies. From every point of view, this is a great match." The deal is expected to finalized by the end of 2009a nd represents the largest acquisition by the Disney Company since it purchased Pixar Animation Studios Inc. That purchase was for $7.4 in stock, in 2006.

The move by Disney is intended, apparently, to boost the company’s appeal to men and boys, as the company had been spending money and time on projects such as "Hannah Montana" and the Jonas Brothers, acts that appeal almost exclusively to young girls. Gareb Shamus, head of Wizard Entertainment Group, noted, "Disney will have something guys grew up with and can experience with their kids, especially their sons."