Disney to buy Marvel Comics

BUR, Calif., Aug. 31 (UPI) -- U.S. entertainment giant Disney Co. said Monday it would acquire Marvel Comics and its stable of characters for $4 billion.

The purchase will give Disney the rights to Spiderman, the Hulk, X-Men, the Fantastic Four, Captain America and 5,000 or so extras, sidekicks, bad guys and minions.

"We believe that adding Marvel to Disney's unique portfolio of brands provides significant opportunities for long-term growth and value creation," Robert Iger, Disney's president and chief executive officer, said in a statement.

"Disney is the perfect home for Marvel's fantastic library of characters, given its proven ability to expand content creation and licensing businesses," Marvel Chief Executive Officer Ike Perlmutter said.

Disney said it agreed to give Marvel shareholders $30 per stock plus 0.745 Disney shares for each Marvel share they own.

The deal values Marvel at $50 per share, Disney said.

The acquisition is subject to anti-trust review and the approval of Marvel shareholders, Variety.com said.