Originally posted by swrdfghtr
Why should it be a wake-up call? I mean, from a financial and business standpoint, he definitely did the right thing. Pixar's "new deal" would have taken Incredibles and Cars away from Disney. Disney would have gotten something like a 7-8% flat-rate distribution fee for movies from then on - that's like 20mil instead of the 150mil they've been getting. Disney would not have had long-term rights to the characters, so no new Pixar-based attractions.
Sure, it will mean Disney will have to pull a rabbit of their mouse ears, since they haven't produced any big hits on their own. But even if they had signed the Pixar deal, they would STILL have to pull that rabbit out, because under the new deal Disney wouldn't really have gotten much benefit from Pixar. Disney basically just would have been a distribution company, like Buena Vista, Touchstone, or Miramax.
Pixar definitely deserves a chance to keep more of the profits of their labors, so they're looking for a studio who just wants to be a distribution partner. There's no promise they'll find that, though, and even if they do it might no be a good fit. Warner, for example, hasn't shown a lot of ability to pull off animated features - something like 1 of their last 9 attempts did well. So Pixar could be hurt by the deal in the long run.
Mike E, on the other hand, gets two more Pixar films which could earn him another 150mil apiece just at the box office. He gets sequel rights to all Pixar films (7 total). If we see Toy Story III, Monsters Inc 2, and Nemo 2 (likely), that could be another 300mil conservatively. Plus he gets all the video, merchandising, and attractions opportunities with all seven films, forever. Not to mention television, and we KNOW there's a Nemo TV series in our future. I think the Disney shareholders will send Mike his wake-up call, and I think it'll be, "good job, dude."