Pixar Dumps Disney
Walt Disney and Pixar have been partnered for distribution of Pixar's previous films, but Pixar has been seeking full ownership in their future films. Under their current deal, Disney will still distribute Pixar's next two films (The Incredibles and Cars).
Steve Jobs is both CEO of Apple as well as Pixar:
"After ten months of trying to strike a deal with Disney, we're moving on," Pixar CEO Steve Jobs said in a statement. "We've had a great run together -- one of the most successful in Hollywood history -- and it's a shame that Disney won't be participating in Pixar's future successes."
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Pixar dumps Disney
Studio headed by Steve Jobs says it will seek other distributors for its films starting in 2006.
January 29, 2004: 4:45 PM EST
NEW YORK (CNN/Money) - Pixar Animation Studios Inc. said Thursday it ended talks with Walt Disney Co. to extend a five-picture deal for Disney to distribute Pixar films.
Pixar said it would begin talks with other companies to distribute its films starting in 2006.
"After ten months of trying to strike a deal with Disney, we're moving on," Pixar CEO Steve Jobs said in a statement. "We've had a great run together -- one of the most successful in Hollywood history -- and it's a shame that Disney won't be participating in Pixar's future successes."
The move was a clear setback to Disney, which reaped a financial and critical bonanza from the partnership and has struggled with its own strategy for animation. Officials at Disney were not immediately available for comment.
Pixar (PIXR: Research, Estimates) stock jumped in after-hours trading, according to Reuters, while Disney (DIS: Research, Estimates) stock sank more than 4 percent.
Pixar said its five films so far -- including "Toy Story", "Monsters Inc." and "Finding Nemo" -- have taken in $2.5 billion at the worldwide box office and sold more than 150 million DVDs and videos.
Disney can distribute two additional films under the existing pact, with Pixar getting its share of the profits. Disney also has the right to finance and produce sequels to the films if Pixar declines to co-finance and produce them under the current agreement
--Waluigi
Pixar Dropping Disney as Distributor
Note calling Steve Jobs the former Apple exec.
TEG
Disney was raking all the money while Pixar did all the hard work.
Link: Pixar Ends Relationship with Disney
Posted on MacBytes.com
Approved by Mudbug
Example: Finding Nemo's release dates.
disney has a long history of siphoning profit off of other's creative juices...then dumping them.
karma is a wonderful thing, ain't it....
eisner, your time's about up.
Originally posted by machinehien
I hope they saved their best ideas for themselves.
Pixar got 37% of the profits from the DVD's (Disney took 50%) and the movie income was fairly light. Pixar owns the rights to all of the films unless the do not want to do a follow up with Disney and they likely will not since they want a sweeter deal.
I feal Disney is making a huge mistake here especially if other big production houses step up to the plate.
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