Walt Disney Takes on Jetix

The Walt Disney Company, through one of its subsidiaries is buying the outstanding shares of Jetix Europe €11 ($14) per share. The acquisition will bring Disney's stake in the pan-European kids' entertainment company to some 96 percent.

Completion of the transaction is expected to take place before the end of the year. Once completed, Disney intends to buy the remaining stake. Additionally, Disney and Jetix intend to end Jetix's listing on Euronext Amsterdam.

Disney says that the acquisition will put it in a better position to serve its large and growing Jetix audience and distribution partners through improved programming, more targeted branding, more integrated management, and implementation of company wide synergies.

"Television continues to be a strong brand builder for Disney around the world and this investment enhances our efforts to reach kids and families," says Anne Sweeney, co-chair, Disney Media Networks and president, Disney-ABC Television Group. "By achieving operating efficiencies, we will have additional opportunities to create more family-friendly programming and locally-produced content across Europe."

Disney acquired its original interest in Jetix Europe—formerly Fox Kids Europe—when it purchased Fox Family Worldwide from News Corp in 2001.