Disney announced $7.4-billion Pixar acquisition 12 years ago

The Walt Disney Company had announced it was buying animation studio Pixar in a $7.4-billion deal on January 24, 2006. The then Apple CEO Steve Jobs, who owned over half of Pixar's shares, became the largest shareholder of Disney and joined its board following the acquisition. Notably, Disney had co-financed and distributed Pixar's films for 12 years, splitting the profits.