Pixar back in talks with Disney
FROM VARIETY: Jobs says deal could be cemented by end of year
By Ben Fritz -- Video Business, 11/9/2005
NOV. 9 | In a third-quarter earnings call, Pixar CEO Steve Jobs said Pixar is "in deep discussions" with Disney about renewing a deal, and said he hopes the two companies will stay together.
"If we go with Disney, then we'll be done by the end of the year, but if we don't, it might be later," Jobs said. "The timing is not our first choice, but it's worth investing an extra few months to determine whether we continue with Disney or not. It would be our first choice to continue with them."
Jobs reiterated he is getting along with Disney's new chief executive Bob Iger, a shift from a contentious relationship with Michael Eisner that contributed to tension a year ago, when a renewal looked unlikely.
In the quarter ended Sept. 30, Pixar reported a profit of $27.4 million on revenue of $45.8 million, up 22% and 3%, respectively, from a year ago.
Performance was driven largely by sales of its library titles, including the re-release of Toy Story on DVD and particularly strong interest for Finding Nemo on various platforms, as well as consumer products.
The Incredibles, the studio's most recent release, contributed relatively little as Pixar experienced higher-than-expected home video returns last spring after the movie hit DVD in March.
A Toy Story 2 special edition DVD will be released domestically Dec. 26, with the company hoping to benefit from post-Christmas sales and gift card shopping.
