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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
postliminy
  • In Roman antiquity, the return of a person who had been banished, or taken prisoner by an enemy, to his old condition and former privileges.
  • In international law, that right by virtue of which persons and things taken by an enemy in war are restored to their former status when coming again under the power of the nation to which they belonged.
The word 'postliminy' comes from a Latin word meaning 'threshold'.