Coming soon: Toy Story 3, Nemo 2?
Disney president says studio is pushing forward with sequels to popular animated films, Pixar or no.
December 8, 2004: 2:42 PM EST
New York (CNN/Money) - The Walt Disney Company is pushing forward with plans to capitalize on the blowout success of "Finding Nemo," "Monsters, Inc." and other animation films whether partner Pixar Animation Studios likes it or not.
Robert Iger, the Disney president on the campaign trail to be named CEO of the world's second-largest entertainment company, told analysts at a CSFB conference in New York Wednesday that the company hopes to develop sequels, television shows, theme park rides and other products based on characters it has developed in conjunction with Pixar.
Iger said "Toy Story 3" is in development and there are plans to roll out sequels to "Finding Nemo," "Monsters," current release "The Incredibles" as well as "Cars," the sixth and final animation film due out under Disney's contract with Pixar.
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He said there is within Disney a "great desire and intention to see to it that sequels are made for the movies that have been released."
It's not certain that Pixar (down $4.35 to $86.71, Research) has agreed to work with Disney (up $0.15 to $27.01, Research) on any sequels, although Iger said he hoped Pixar "would step up and participate as is their right."
Iger's comments were significant for several reasons.
Relations between the two studios cooled earlier this year when Pixar CEO Steve Jobs abruptly broke off talks to renew a contract that has been immensely lucrative for both companies.
Under terms of their existing deal, Disney and Pixar co-finance films and split the profits. Disney owns the rights to the film library, including the development of sequels and other products based on the characters.
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Investors have been looking for signs that the two studios are back at the negotiating table.
While Iger gave no indication that the two sides are talking, he made it clear that Disney intends to develop animation titles with or without Pixar.
Under the current deal, Pixar can work with Disney to develop sequels to their existing library and to share the profits generated.
Pixar has not said whether it will exercise that right, but analysts have said Disney's plan to extend the studios' library puts Pixar in a difficult position. If the sequels flop at the box office, the so-far unblemished Pixar reputation will suffer too.
Disney president says studio is pushing forward with sequels to popular animated films, Pixar or no.
December 8, 2004: 2:42 PM EST
New York (CNN/Money) - The Walt Disney Company is pushing forward with plans to capitalize on the blowout success of "Finding Nemo," "Monsters, Inc." and other animation films whether partner Pixar Animation Studios likes it or not.
Robert Iger, the Disney president on the campaign trail to be named CEO of the world's second-largest entertainment company, told analysts at a CSFB conference in New York Wednesday that the company hopes to develop sequels, television shows, theme park rides and other products based on characters it has developed in conjunction with Pixar.
Iger said "Toy Story 3" is in development and there are plans to roll out sequels to "Finding Nemo," "Monsters," current release "The Incredibles" as well as "Cars," the sixth and final animation film due out under Disney's contract with Pixar.
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He said there is within Disney a "great desire and intention to see to it that sequels are made for the movies that have been released."
It's not certain that Pixar (down $4.35 to $86.71, Research) has agreed to work with Disney (up $0.15 to $27.01, Research) on any sequels, although Iger said he hoped Pixar "would step up and participate as is their right."
Iger's comments were significant for several reasons.
Relations between the two studios cooled earlier this year when Pixar CEO Steve Jobs abruptly broke off talks to renew a contract that has been immensely lucrative for both companies.
Under terms of their existing deal, Disney and Pixar co-finance films and split the profits. Disney owns the rights to the film library, including the development of sequels and other products based on the characters.
YOUR E-MAIL ALERTS
Follow the news that matters to you. Create your own alert to be notified on topics you're interested in.
Or, visit Popular Alerts for suggestions.
Manage alerts | What is this?
Investors have been looking for signs that the two studios are back at the negotiating table.
While Iger gave no indication that the two sides are talking, he made it clear that Disney intends to develop animation titles with or without Pixar.
Under the current deal, Pixar can work with Disney to develop sequels to their existing library and to share the profits generated.
Pixar has not said whether it will exercise that right, but analysts have said Disney's plan to extend the studios' library puts Pixar in a difficult position. If the sequels flop at the box office, the so-far unblemished Pixar reputation will suffer too.
