Staff Writer: Grave Digger
Disney is buying out the competition. From children's book clubs to comics? That's right, Disney is making a play to corner the market.
"Disney has acquired the kid-focused virtual world of Club Penguin in a deal totaling $700 million: $350 million cash and the chance to earn out $350 million more between now until 2009."
“This transaction combines Marvel’s strong global brand and world-renowned library of characters including Iron Man, Spider-Man, X-Men, Captain America, Fantastic Four and Thor with Disney’s creative skills, unparalleled global portfolio of entertainment properties, and a business structure that maximizes the value of creative properties across multiple platforms and territories,” said Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company.
Disney's acquisitions might shed some light on the Narnia franchise's demise. Disney needs the capital to buy these other outlets.
If this is so, Disney might have made a mistake letting Narnia go. The Voyage of the Dawn Treader may compete with the Prince Caspian box office. An adventure story versus a war story may attract more family viewers.
We'll have to wait and see in December 2010.
Sources: Mashable and Mashable
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