Disney will make a $ 4 billion payment to the rights at a time, about 5,000 characters in Marvel Comics in movies, theme parks, etc. Time to listen to Bob Iger explain why it's worth.
Bob Iger, CEO of Disney, Marvel doing a good job of mining "rich intellectual property portfolio" to exploit the lesser known characters like Iron Man We do more than that. Treat Pixar last three years shows that we can do this.
Mort Handel, Chairman of Marvel (* not * Marvel CEO Isaac Perlmutter): Thanks!
, Tom Staggs, chief financial officer of Disney, Marvel, current licensing agreements are not a problem for us. They expire or you can bring into the house or third party to do more deals. We will exploit less-known characters, the overseas expansion. Agreement shall dillutive, but we will be the repurchase of shares during the next year. Expected agreement to increase the value of two years, will be positive EPS for the year 2012.
Q & A: The cost savings? Layoffs? Staggs: Do not ride this agreement. What moves them is the opportunity for "synergy" with time?
What does this deal say about the health of the DVD market? Iger: As we said, we believe that the DVD market change for reasons other than the economy of the poor. But we think people are still buying the albums that appeal to their children, and that helped us. As discussed Marvel had in mind the concerns on DVD in the equation. Marvel characters "are not bulletproof, but we believe that we are in a better position than most.
existing offers What impact has an agreement with other studies (ie, Sony (SNE) has Spiderman? Staggs: Not so. How
synergy revenue side is there? Staggs: Wont quantified. However, "we believe are attractive, and become more attractive over time." Can you do more "Iron Man"-type characters that people are not comic book nerds will come to like? That's the plan.
Iger: Marvel has been great about finding out who the most sense in the market. Iron Man a great example. We do not claim to be experts on that, and we hope that the people of Marvel to keep doing that for us. "We trust them completely." As for other offers of study for the characters (again, see Spidey / Sony), no big deal.
Can you tell us where the opportunities are great, specifically? Iger: Disney XD channel is already running 20 hours a week of Marvel products aimed at children. We have been looking for more licensing of Marvel characters in the future, and now we can do even more. International allows us to expose the characters more people around the world in a way Marvel could not do on their own. In video games, you may leave and also self-distribute. Staggs: Marvel generates less than 50% of licensing revenue from international organizations, we are more than 50%.
More on distribution agreements - plans to leave Paramount / Viacom (VIA) deal? In addition, more 3D movies on the road? Iger: Who is in charge of these films will make the call in 3D. Paramount's agreement: "Our intention, obviously, is to respect the agreement in place." Over time, we obviously want to be exclusive distributor of these films.
Can you "cross pollination" between Pixar and Marvel? Iger: We talked about it internally. Pixar chief John Lasseter talked to the guys from Marvel about it and everyone raved about it. We think there is "ultimately a product exciting" coming from that. "Sparks Will Fly "!
[Sorry, missed the next q]
When Paramount, Sony, Fox deals expire? Not go into details. You can not really talk about it, especially because it is not really the owner of Marvel yet.
offer anyone else at Marvel? Staggs: We came out a few months ago (Iger, Perlmutter), and that is what led to today's announcement. [Translation: No].
[You missed this q as all]
S & P's Tuna Amobi surprisingly called wants to know if Disney is moving away from Disney-branded offerings. In addition, Pixar premium was much lower than this agreement. What's up with that? Iger: We have focused on the Disney brand, because the returns have been quite convincing. However, we are interested in the brand in general, because we believe that premium brands are increasingly important given the choice. In this case, not only Marvel can build brand, but use the platform to help distribute Disney and "create a greater presence of Marvel." "The goal is not to change its name to Marvel [as] of Disney." Staggs: I like to buy premium assets at bargain prices, but that does not happen very often. "This was not an agreement that [Marvel] had to do." Business Premium, Premium total assets have to pay a fair price for it. "We think it is one of the win-win situations. "Tuna: OK, but what Pixar deal? Staggs: Do not talk about the relative valuations.
[Sorry, missing the last question, so]
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