Deal expected to strengthen Disney's position as a leading global provider of high-quality branded entertainment and build long-term shareholder value.

Marvel Entertainment, Inc., a global character-based entertainment and licensing company founded in 1939, announced that at a special meeting held on 31 December 2009, Marvel stockholders approved the adoption of the Agreement and Plan of Merger entered into by Marvel and The Walt Disney Company, which provides for a merger in which Marvel will become a wholly-owned subsidiary of Disney. Marvel anticipates that the merger has an estimated value of approximately $4.3 billion.

Advancing its strategy of delivering great branded content to people around the world, The Walt Disney Company has completed its acquisition of renowned character franchise company, Marvel Entertainment Inc.

"We're thrilled to welcome to the Disney family the talented team at Marvel," said Iger. "We believe the creative and business potential of this combination is substantial and can help us grow both our top and bottom line, leading to a significant increase in long-term shareholder value."

Under the terms of the agreement and based on the closing price of Disney on Thursday, December 31, Marvel shareholders will receive a total of $30 a share in cash, plus approximately 0.7452 Disney shares for each Marvel share they own.

Marvel's assets include a library of over 5,000 characters featured in a variety of media over 70 years and businesses, including licensing, movie production and publishing.