Disney Acquires Children’s Online Provider

The Walt Disney Company acquired Club Penguin, a virtual online community frequented by tweens in a deal that could total $700 million. The company will initially pay $350 million and another $350 million by the end of 2009 if the site meets growth ta

April 6, 2018

The Walt Disney Company acquired Club Penguin, a virtual online community frequented by tweens in a deal that could total $700 million. The company will initially pay $350 million and another $350 million by the end of 2009 if the site meets growth targets. The move will enable Disney to gain a further stronghold on children’s entertainment on the internet. The site currently has more than 700,000 users who pay $5.95 a month to customize penguin characters and then chat and play games with other members.

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