Oakland Tribune 1/25/05

Pixar will join Disney in $7.4 billion buyout
By Matthew Bunk, STAFF WRITER

EMERYVILLE — Filmmaker Pixar Animation Studios Inc. agreed Tuesday to be acquired by The Walt DisneyCo. in a $7.4 billion deal that will allow Pixar to keep creative control of its award-winning lineup of movies and restore Disney's clout in animation.

Pixar Chief Executive Steve Jobs welcomed Disney Chief Executive Robert Iger at Pixar's Emeryville campus Tuesday to announce that the boards of both companies had agreed to the buyout. In a conference call, both Jobs and Iger stressed the importance of not changing the dynamic and unique culture that has allowed Pixar to become a leader in family entertainment, earning 20 Academy Awards with hits such as "Toy Story" and "Finding Nemo."
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