POW!!! BOOM!!! Marvel shareholders approve sale to Disney

Jan 1, 2010, 0:18 GMT

Washington - Move over Mickey Mouse! It's official - Spider- man, Iron-man and X-man are moving in.

Marvel Entertainment shareholders Thursday approved the estimated 4.3-billion-dollar cash-and-stock takeover of Marvel Comics by entertainment giant Walt Disney Co.

After the deal was approved, Disney also bought a 10 per-cent stake in comic-book writer Stan Lee's POW! Entertainment for 2.5 million dollars. The deal extends a partnership between Lee and Disney that started in 2007, Bloomberg financial news service reported.

The 4.3-billion-dollar takeover deal was announced in August and gives the Disney family entertainment conglomerate a powerful squad that also includes The Incredible Hulk and the Fabulous Four.

The deal gives Disney the rights to over 5,000 Marvel characters, many of which have much stronger box office allure than Disney's traditional stable of characters such as Mickey Mouse and Donald Duck. The three Spider-Man movies alone have generated some 2.5 billion dollars in worldwide box office receipts.

The acquisition reflects Disney's long-term strategy of adding to its cast of characters and talent as when it bought animation powerhouse Pixar for 7.4 billion dollars in 2006.

The Marvel deal also gives Disney a key brand for connecting with teenage boys, a market that has been overshadowed by the popularity of stars such as Hannah Montana with girls.

'Disney is the perfect home for Marvel's fantastic library of characters given its proven ability to expand content creation and licensing businesses,' said Marvel chief executive Ike Perlmutter in August.

'This is an unparalleled opportunity for Marvel to build upon its vibrant brand and character properties by accessing Disney's tremendous global organization and infrastructure around the world,' he added.