January 24: Big News Out Of Burbank

Catmull, Jobs, Iger & Lasseter

It was on this day in 2006 that Robert Iger, President and CEO of The Walt Disney Company, announced that Disney had agreed to acquire Pixar (for $7.4 billion).

Iger stated, "With this transaction, we welcome and embrace Pixar's unique culture, which for two decades, has fostered some of the most innovative and successful films in history."

In this same announcement it was also revealed that Pixar President Ed Catmull would now serve as President of the new Pixar and Disney animation studios and Pixar Executive Vice President John Lasseter would be Chief Creative Officer of the animation studios, as well as Creative Principal Advisor at Walt Disney Imagineering.

Pixar Chairman and CEO Steve Jobs (of Apple fame) was also appointed to Disney's Board of Directors. The transaction catapulted Jobs to Disney's largest individual shareholder (and brought Disney closer to Apple). "Disney and Pixar can now collaborate without the barriers that come from two different companies with two different sets of shareholders," Jobs explained.

Disney had first entered into a feature film agreement with Pixar back in 1991 that resulted in Toy Story. This day's acquisition was officially completed on May 5, 2006.

Click HERE for more January 24 Disney history.