Marvel Acquisition Completed

Disney has completed its acquisition of Marvel Entertainment Inc., in which the company will become a wholly-owned subsidiary of Disney. Under the terms of the agreement, and based on the closing price of Disney on December 31, Marvel shareholders will receive $30 a share in cash, plus approximately 0.7452 Disney shares per Marvel share they own. The agreement was approved by Marvel stockholders. Marvel Entertainment, established in 1933, has a library of over 5,000 characters.