full text available here:
http://blogcritics.org/archives/2006/01/29/225806.php

No, I don't have it backwards. Yes, Disney recently announced their acquisition of Pixar Animation Studios. But, thanks to a generous stock swap, Pixar founder (and Apple Computers CEO) Steve Jobs is now the largest stockholder in Disney; strangely making this deal Pixar's takeover of Disney Animation. Jobs sits on the board of directors with non-voting shares, but the creator of the Macintosh computer and iPod is no pushover when it comes to business. It may only be a matter of time before Jobs assumes control of Disney itself.
Disney has always regarded their rival and partner with greedy, envious eyes, due to Pixar's unbroken string of hit movies that have generated nearly six billion dollars in ticket sales. (Pixar makes the films, Disney distributes them, and they spit the profits evenly.)
Disney Animation's solo efforts have floundered with every passing year and the corporation's revenue would remain stagnant if it weren't for their more profitable divisions, such as ABC Television and Touchstone Pictures.
It remains to be seen if Pixar will remain a separate brand from the rest of Disney. But, it would be foolish to throw away a brand that audiences are so emotionally invested in.