The Walt Disney Company made the first move in what is expected to be a wave of consolidation in Hollywood on Monday with a surprise US$4B bid for Marvel Entertainment in a deal that will unite Iron Man and Spider-Man with Mickey Mouse and Hannah Montana. The deal, which will earn more than US$1.4B for Ike Perlmutter, Marvel’s chief executive and largest shareholder, raised the prospect of other transactions at a time when the entertainment industry is in flux. Disney shares fell US$0.82 to US$26.02 in afternoon trading. Read more
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