BURBANK, Calif. -- Media company Walt Disney (DIS) said Monday one of its units will buy outstanding shares of Jetix Europe, a European children's media company.
Disney plans to buy outstanding shares for 11 euros ($14) a share. The deal is expected to be completed by the end of the year and will combine buying outstanding shares outright with statutory buy-out proceedings.
The acquisition allows Disney to cut costs and improve its distribution in Europe, the company said.
Disney acquired its original stake in Jetix when it bought Fox Family Worldwide from News Corp. (NWS) in 2001.
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