Just two days after closing a $71.3 billion deal to buy 21st Century Fox, American conglomerate Disney declared Tuesday that it has decided to “just buy the entire world and everything in it” for $650 trillion, in what is being seen as a major step forward in the company’s plan to touch every part of every consumer’s life.
Disney had been a mere behemoth, dominating sports with its acquisition of ESPN, controlling the theme park business and running Hollywood’s No. 1 cinema studio, with new additions that include Marvel, Pixar and Lucasfilm, and entry into the streaming business with its purchase of Hulu. But the company decided that it needed to bulk up even more as the tech giants aggressively moved into its home turf, Hollywood.
Disney’s $650 trillion acquisition will bring the planet Earth, all of its land, water, and natural resources, as well as all man-made structures, products, infrastructure, and currency therein under control of the cinematic colossus.
“Everything the light touches is our kingdom,” said Disney CEO Robert Iger.
“We are very pleased to be bringing the entire planet into the Disney family,” Iger added in an interview about the purchase Friday. “We see this acquisition as vital to our stated goal of being obsessively customer-centric.”
“But, as always, we will keep a long-term view, and will not rest on our laurels. There are trillions and trillions of other planets in a galaxy far, far away to colonize and acquire,” he added.
The challenges are daunting. Mr. Iger and his top lieutenants need to persuade investors to start viewing Disney more like an empire, where the risk of short-term financial turbulence is often outweighed by long-term galactic dominance.