Pixar and Disney end talks
Jan 30, 2004 by Ian Evans
Pixar Animation Studios and The Walt Disney Co. have ended talks to continue a relationship that has resulted in a string of computer-animated hits including Monsters, Inc., the Toy Story films, and last year’s top box office draw, Finding Nemo.
“After 10 months of trying to strike a deal with Disney, we’re moving on,” Pixar chief Steve Jobs said in a statement. “We’ve had a great run together — one of the most successful in Hollywood history — and it’s a shame that Disney won’t be participating in Pixar’s future successes.”
The news helped Pixar shares, which rose more than 4% in morning trading, and hurt Disney’s stocks. Many analysts feel that Pixar has the upper hand and can find a better deal elsewhere. Potential suitors include Sony, Fox and Warner Bros.
Pixar still owes Disney two films under the current deal: The Incredibles, due in November, and Cars, which will be a 2005 release.