Forget everything you know about comic book crossovers. The largest "team-up" in comic book history took place last week as Disney announced that it was purchasing Marvel Entertainment in a deal worth roughly $4 billion. No, folks, that's not a typo that's "billion" with a "b". The news came as a huge surprise to everyone in the entertainment industry. The price tag is the second highest ever paid by Disney for an acquisition, beaten out only by the $7.4 billion stock deal made between Disney and Pixar back in 2006. Plus, neither company was really known to be courting the other, and both had been managing pretty well on their own. Still, the deal is all but done, and soon Avengers Tower will have a new address in the Magic Kingdom. So how will the deal affect the rest of the entertainment industry? Let's just say things might be getting a lot more interesting.
First on comic fans' minds when news of the deal broke was how would the Disney purchase affect all of their favorite comic characters in their monthly books. According to both sides, it's pretty much business as usual over at Marvel. The deal in place will be similar to the deal Disney set up with Pixar, with Disney taking a fairly hands-off approach in the day to day operations. After all, as the old adage goes, "If it ain't broke, don't fix it." And with Marvel's substantial financial success over the past couple of years, it's a safe bet to say that Marvel wasn't broke. So, take a deep breath, true believers we probably wont be seeing Mickey, Goofy, and the rest of the Disney crew crossing over into mainstream Marvel universe anytime soon.
One question a lot of people were asking after word of the Disney/Marvel deal broke was what's going to happen to Universal Studios' Islands of Adventure theme park? After all, Walt Disney World is within a stone's throw of Islands of Adventure. And with one whole section of Islands of Adventure dedicated solely to the Marvel Universe, you can't help but wonder if Disney will flex a little mouse muscle to move Marvel a little closer to home. The reality is, though, that Marvel's little Florida getaway is safe and sound just where it is. According to the licensing deal Marvel has had in place with Universal, Universal and its corporate parents get exclusive use of Marvel characters in theme parks on the East Coast in the U.S. and of Spider-Man for its parks in Japan (which currently has a roller coaster ride similar to the one in Florida). The rights will continue to stick with Universal for as long as the studio holds up its end of the bargain, or until Disney decides to shell out the dough to buy out Universal's stake. Of course, that doesn't mean Marvel might not be making an appearance at Disneyland over on the West Coast. Universal Studios Hollywood used to use Marvel characters in its attractions until the decision was end the partnership with Marvel back in 2007, leaving the door wide open for Disney and Marvel characters to play in the same sandbox out west.
Another thing on everyone's mind immediately after the buyout news was the fate of the Marvel movie franchises, currently all over Hollywood at studios like Sony (Spider-Man), Fox (X-Men, Fantastic Four), and Paramount (Iron Man). What would the big screen fate be for all of the Marvel icons? Well, according to the current deals in place prior to the Disney buyout, it looks like these flicks will be moving forward like nothing's changed at least for now. Much like the Universal deal with the Islands of Adventure, Fox managed to get many of the characters' movie rights pretty much in perpetuity. Basically, as long as it keeps actively making movies based on the X-Men, Daredevil, and the Fantastic Four, they'll keep the rights to make those movies. That's not to say the Marvel buyout didn't light a fire under the studio's ass though. Just one day after the buyout news hit, Fox announced that it was beginning work on a new Fantastic Four movie, rebooting the franchise and starting from scratch. Sony, meanwhile, has locked up the Spider-Man rights for at least three more movies, with the current game plan to be restarting the franchise starting with the fifth movie. And as far as Iron Man, Captain America, and the Avengers are all concerned, they'll still be hitting the big screen through Paramount, thanks to a five picture distribution deal.
Movies aren't the only industry Marvel's been spread out in. A lot of video game companies have been playing in the Marvel sandbox. THQ, Sega, Activision, and even newcomer Gazzilion Entertainment, all have their fingers dipped into the Marvel pie. THQ has been hard at work on the kid-friendly Marvel Super Hero Squad, Sega's polishing up Iron Man 2, Activision is getting ready to release Marvel Ultimate Alliance 2, and Gazillion is hip deep in development of the upcoming Marvel MMO. So where does that leave Disney, who has its own game development arm at Disney Interactive Studios? Talking to investors, Disney CEO Bob Iger addressed the issue, stating that Marvel has "some smart licensing agreements with some of the best video game manufacturers in the business." And while Iger said Disney wouldn't rule out continuing to license out its newly acquired properties, "As these licensing deals expire we have the luxury of considering what's best for the company and the products." Right now, the Activision deal is set to expire in 2017, Gazillion's MMO deal is good through 2019, and both Sega and THQ have "multi-year" deals which knowing Marvel's penchant for signing deals in perpetuity could mean that as long as the two companies keep up their end of the bargain, they get to keep making the games.
Over on the print side of the Disney/Marvel buyout, there's been plenty of buzz and speculation building as well. Last year, comic book publisher Boom! Studios made waves when it announced that it had secured the license to a number of Disney/Pixar franchises, including The Incredibles, Cars, and even the Muppets. Built on the success of that arrangement, Disney and Boom! expanded on the licensing deal just a few months ago, adding mainstays like Mickey Mouse and Donald Duck to the mix. Of course now that Disney will have a comic publisher of its very own, is the Boom! deal in jeopardy? Right now, it doesn't seem to be the case. As with most other arrangements prior to the buyout, there's already a contract in place. Unless Disney chooses to buy out the remainder of the contract, or if Boom! fails to live up to its end the deal, things should keep moving along as if there was never a change. Sure, eventually we'll probably see Mickey, Goofy, Donald, and the rest of the Disney icons published under the Marvel banner, but not necessarily anytime soon.
Taking a long hard look at all of the deals already in place, both at Marvel and at Disney, one thing is abundantly clear: By buying Marvel Entertainment, Disney is looking at the big picture. Eventually, most, if not all, of these rival licensing deals currently in place will expire, leaving the door wide open for Disney to take its turn up at bat. And with the wealth of characters available in the Marvel stable, there's nothing stopping Disney from taking any number of currently unattached properties and putting them in the spotlight. In the meantime though, Disney is content to sit back and rake in those millions of licensing dollars and royalties that the Marvel properties have been earning. And while there may be a few minor changes, such as Doctor Doom and the Wicked Queen having a date together at Disneyland or a New Warriors direct-to-DVD flick from Disney, by and large, there's not going to be too many noticeable changes in the immediate future. The moral of this story? "The more things change, the more things stay the same."
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