It's confirmed: Disney has bought Pixar for US$7.4 billion. The move means Pixar Chairman and CEO, Steve Jobs, will be appointed to the Board of Directors at Disney.

Jobs also stands to profit substantially from the deal, which involves no cash - each Pixar shareholder will receive 2.3 Disney shares for each Pixar share they hold. Jobs was the majority shareholder in Pixar, owning 50.6 percent of the company. At the time of writing, Disney shares are worth US$26 each.


Pixar's creative lead, John Lasseter, will become Chief Creative Officer of the new, joint animation studios. And will also advise on the design of new rides for the various Disney theme parks around the globe, which now includes Disneyland Hong Kong and a rumoured new park in Shanghai set for 2010.