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Bob Iger left no doubt Tuesday that change is the order of the day at Disney (DIS Quote).
With Tuesday's $7.4 billion deal for Pixar (PIXR Quote), Iger not only makes a big bet on Steve Jobs and his red-hot animated movie studio. He also breaks decisively with the lamented Michael Eisner era.
The companies confirmed after weeks of speculation that they'll merge in a massive stock swap. Disney will issue 2.3 shares for each Pixar share in a deal worth a net $6.3 billion, excluding Pixar's cash on hand. Jobs will join Disney's board and Pixar President Ed Catmull will serve as president of the new Pixar and Disney animation studios. Disney also said it will boost its buyback plan to 400 million shares from the previous 225 million. ...
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