Monsters Inc is owned by Disney
Pixar ends film partnership with Disney
Pixar boss Steve Jobs - he is also Apple computer boss - announced the failure of negotiations on a new sales and cooperation agreement that had broken down after ten months on Thursday after the stock market closed. It was a real Hollywood shock because the experts had expected a new agreement after all.
The five Pixar films "Toy Story" (1995), "The Big Chatter" (1998), "Toy Story 2" (1999), "Monsters, Inc." (2001) and "Finding Nemo" (2003) have followed Pixar claims have grossed more than 2.5 billion dollars (two billion euros) in cinemas worldwide. In addition, more than 150 million DVDs and videos were sold.
“Together we had one of the most successful runs in Hollywood history. It's a shame Disney won't participate in future success, "said Jobs. After the termination of the last two films under the existing agreement, "The Incredibles" in 2004 and "Cars" in 2005, Pixar intends to retain sole ownership of its future productions, said the animation film studio based in Emeryville, California.
Disney boss Michael Eisner said that a "continuation of our successful cooperation would have preferred under mutually acceptable conditions". You could not accept the final offer from Pixar, "because it would have cost Disney hundreds of millions of dollars that would have been granted to the company under the existing agreements," said Disney chief financial officer Tom Staggs, explaining the broken negotiations.
Pixar and Disney had their first development and distribution agreements in 1991. From 1995 onwards, Disney co-financed and distributed the Pixar hits, starting with “Toy Story”. The two companies shared the profits after deducting the distribution fees paid to Disney.
Under the current agreements, Disney retains the right to distribute the first seven Pixar films. Pixar continues to get its share of the profits. Disney also has the right to finance and produce the sequels of the seven Pixar films on its own if Pixar does not participate.
Disney has not had much success with its own cartoons lately, while Pixar and its legendary creative team under John Lasseter landed one hit after another and won a series of Oscars.
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