Disney Pays $500 Million for YouTube’s Marker Studios and Facebook Acquires Oculus for $2 Billion
The Walt Disney Company (NYSE: DIS) shares soared after the company announced that it has acquired Marker Studios for $500 million. An additional $450 million may be needed if certain conditions and mile stones are met by Maker. The acquisition which was first reported on Monday was followed by reports of negotiations between Disney and Marker Studios from a few weeks ago. Marker is a multichannel network on YouTube whose channels have more than 4.5 billion monthly views and more than 340 million subscribers. The move is a result of Disney feeling compelled to focus on online video distribution to attract young viewers, who have less fascination for television and other traditional media.
The Walt Disney Company operates as an entertainment company worldwide. The company operates in five segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products, and Interactive. The Media Networks segment operates broadcast and cable television networks, domestic television stations, and radio networks and stations; and is involved in the television production and television distribution operations.
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Facebook, Inc. (NASDAQ: FB) has agreed to buy Oculus for $2 billion, in a deal that includes $400 million in cash and 23.1 million shares that are worth about $1.6 billion. Oculus is a virtual reality technology company that makes the Oculus Rift, a virtual reality headset that’s received a lot of attention from video game developers. Oculus employees are also eligible for an additional $300 million if the company achieves certain targets.
Facebook says that while applications for virtual reality technology beyond gaming are "nascent," it plans to extend it to other uses. These include communications, media, entertainment and education. The acquisition comes after the company’s $19 billion deal to purchase messaging startup WhatsApp last month.
Facebook, Inc. operates as a social networking company worldwide. It provides a set of development tools and application programming interfaces that enable developers to integrate with Facebook to create mobile and Web applications.
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