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Business News Archive - January 24, 2006

The board of Walt Disney Co. has authorized Chief Executive Robert Iger to make an offer to buy Pixar Animation Studios Inc. and is expected to do so by Tuesday, a source familiar with the matter said late on Monday.

By Linda Sieg and Teruaki Ueno TOKYO (Reuters) - Japanese Prime Minister Junichiro Koizumi came under fire on Tuesday after the arrest of a brash young Internet CEO who shook up corporate Japan and ran for parliament with ruling party backing as a poster boy for reform.

The Walt Disney Co on Tuesday said it would buy Pixar Animation Studios in a $7.4 billion deal that gives Pixar animators creative control over the world's most famous cartoon studio and makes Pixar CEO Steve Jobs one of Disney's largest shareholders.

Word of the Day
grass-comber
  • A landsman who is making his first voyage at sea; a novice who enters naval service from rural life.
According to the OED, a grass-comber is also 'a sailor's term for one who has been a farm-labourer.'