Disney has transitioned from a studio producing mostly cartoons to a multi-faceted company with its hands in many entertainment industries including film, streaming, and theme parks.
Having started in 1923 as a cartoon studio by Walt and Roy Disney, The Walt Disney Company has grown to be the largest and most influential entertainment company in the world.
Pixar began in 1986 when Steve Jobs purchased George Lucas’ Computer Division and turned it into its own independent company.
Its first short film, “Luxo, Jr.” came out that same year, John Lasseter’s directorial debut, and was nominated for an Oscar in the best animated short film category.
Does Disney Own Pixar in 2023?
Disney does own pixar as of 2023. Disney have purchased Pixar in 2006 for $7.4 billion from Steve Jobs who is the previous owner of Pixar. Steve Jobs became a member of the Disney board from the Pixar deal, and is the largest shareholder of Disney.
In 2006, Disney and Pixar had been working together for more than a decade to produce some of Disney’s biggest films like Toy Story and Finding Nemo. Due to disputes over a distribution deal, Jobs was ready to end the relationship between Pixar and Disney. Instead, Iger convinced him to sell.
In 2006 Jobs sold Pixar to Disney for $7.4 billion and a seat on the Disney board. He was on the board at Disney up until his death from pancreatic cancer in 2011.
Iger knew that Pixar studios added massive value to the Disney brand and purchasing the company could allow them to keep the partnership going without further disputes.
How Did Disney Acquire Pixar?
Disney CEO at the time Bob Iger saw an opportunity to acquire Pixar in 2006. The two companies had a decade-long history of working successfully together.
Bob Iger pitched his idea to the owner of Pixar, Steve Jobs, in a whiteboard session at Apple headquarters where the two shared the pros and cons of creating this merger.
Ultimately, it was the input by Steve Jobs that led to getting the Disney board to go along with the purchase and a price tag of $7.4 billion was reached.
Jobs still held a 60% stake in Pixar, making him the largest investor in Disney at the time.
What Was Changed In Pixar After The Acquisition?
Two years after Disney purchased Pixar Studios, the duo came out with Wall-E. It was critically acclaimed for its storyline and animation, grossing $521.3 million worldwide.
Although the company has been criticized for making numerous amounts of sequels, some of the highest-grossing films since the acquisition have been from Pixar Studios.
Toy Story 3 grossed $1.06 billion in 2010, The Incredibles 2 grossed $1.2 billion in 2018, and Toy Story 4 grossed $1.07 billion in 2019, proving the partnership is still working.
What Was The Connection Between Disney And Pixar?
In 1991, Pixar Studios agreed with The Walt Disney Company to produce 3 feature-length animated movies.
In 1995, this agreement brought us Toy Story. It was the first entirely computer-animated feature-length film and was met with huge success.
Two years later, due largely to how big Toy Story had been, Pixar extended its contract with Disney and came out with A Bug’s Life and Toy Story 2 before the year 2000.
Pixar’s contract with Disney was nearing completion by 2006 when Iger and Jobs got together to negotiate the purchase of Pixar by Disney.
Is Pixar A Subsidiary Of Disney?
Pixar Studios is a subsidiary of The Walt Disney Company, as of 2006 when its sale was approved by Pixar shareholders.
By making Pixar a subsidiary, and with its former CEO Steve Jobs owning the largest stake in the company, that made Steve Jobs the largest stakeholder in Disney after the merger.
After the purchase, Steve Jobs owned a 7% stake in The Walt Disney Company. He held a spot on the Disney board until he died in 2011.
Other stakeholders in Pixar had, in turn, received 2.3 shares of stock in Disney for each of their stocks in Pixar Studios.
Does Disney Still Own Pixar in 2023?
The Walt Disney Company still owns Pixar Studios. Pixar has continued to produce high-quality feature animated films and shorts for Disney over the years since its merger.
Some of Pixar’s most recent films, including Onward, Luca, and Soul, are available on Disney’s streaming service Disney+, along with the rest of the Pixar collection.
Disney’s knack for acquiring Studios that add value to the Walt Disney Company brand, including Marvel Studios and Pixar, have led to it grossing more money than it could have ever done on its own.
Most common questions on Disney ownership:
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- Does Disney Own Pixar?
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