Word: pixar
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Since Jobs owns about half of Pixar, worth $3.5 billion, he is set to become Disney's largest individual shareholder, with a 7% stake. He is also in line for a board seat, which could advance all sorts of deals with Apple. Downloads from Disney's ABC network are already available at the iTunes video store. Think ESPN podcasts to iPods via wireless. Or an Apple TV network featuring tech talk with Jobs. Ever coy, Jobs was vague about his plans, but he is expected to push Disney to leverage its vast library across more digital platforms. He could also...
...Pixar, situated in Emeryville, Calif., north of Oakland, is a thriving playground of creativity where animators customize their workspaces to resemble tiki huts and castles, relax in secret rooms like the red-velvet Love Lounge or take a dip in the company pool. Lasseter is the ringleader, a man whose imagination fills every frame and inspires the troops. "He has a posse around him constantly," says a staff member who works closely with him. Other studio bosses are in awe of Pixar's six-for-six record. "Because of the pictures Pixar has made, the bar has been set incredibly...
...prospect of losing Pixar, whose movies have grossed more than $3.2 billion at the box office worldwide. Its finance-and-distribution deal was set to expire after the release of Pixar's Cars this June. Even worse, the companies nearly split in a War of the Roses--style divorce as friction mounted between Jobs and Eisner over terms of a new partnership. That fracture helped ignite a shareholder revolt against Eisner. When Iger took over, one of his first calls was to Jobs...
Although Disney is buying Pixar's talents in digital animation, including proprietary software, the key asset is more prosaic: Pixar's superior skill at telling stories. "We won't let anything get ahead of the quality of the story," Pixar president Ed Catmull told TIME. "It's meant we have not increased production at the rate we have wanted...
That's why Lasseter, Pixar's storyteller in chief, will become Disney's chief creative officer. Already he has suspended Disney's work on Toy Story 3. Before the deal, Disney owned the right to produce Pixar sequels without Pixar and was exercising it, to Lasseter's horror. A Disney animator back in the days of Tron, Lasseter is expected to revamp Toy Story 3 and other features in part by demanding that stories and characters drive the picture--not the visuals or bean counters. Catmull says creatives at Disney animation and Pixar will work more closely on story development...