New Disney CEO Iger gets high marks for Pixar deal- Reuters- 1/25/06
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Walt Disney Co (DIS.N: Quote
) Chief Executive Robert Iger got high marks from investors on Tuesday for pursuing an acquisition of Pixar Animation Studios Inc (PIXR.O: Quote
) in a deal that most said could not have happened under the watch of Iger's predecessor, Michael Eisner.
Iger, who announced the $7.4 billion acquisition of Pixar on Tuesday, moved quickly since becoming CEO last October to shore up fractured relations with Pixar chief Steve Jobs, displaying a confidence in his new role after years of being seen as Eisner's junior partner.
"It goes to show you he has a comfort factor with the power he has at Disney," said Mario Gabelli of Gabelli Asset Management Co., which holds Disney stock. "Iger comes from a different culture than Eisner. The pedigree of Eisner, who is brilliant, came out of the Paramount