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Marvel Staying in NYC Despite Disney Deal

NEW YORK CITY-Marvel Entertainment's new corporate parent intends to leave its current operations intact, Disney executives said in a conference call Monday.

By Paul Bubny | Updated on August 31, 2009

NEW YORK CITY-Spider-Man and the Incredible Hulk won’t be reporting to work at Walt Disney Co.’s Burbank, CA offices anytime soon. A spokesman for Marvel Entertainment tells GlobeSt.com there are currently no plans to shift the company’s base of operations from New York City, where it’s been headquartered since 1939, in the wake of the $4-billion acquisition deal with Disney, announced on Monday.

In a conference call discussing the acquisition–the largest media deal year-to-date and the biggest since Disney’s $7.4-billion acquisition of Pixar in 2006–Disney CFO Tom Staggs said that cost savings were not the driver, although “there are some opportunities for efficiencies.” He added, “This was not a deal that Marvel had to do or a deal that Disney had to do.”

Staggs and Disney CEO Robert Iger both made the point that the Mouse House intends to leave the current Marvel operations and creative teams intact on both coasts”in contrast to other large M&A deals this year that have resulted in consolidation of operations. For example, Disney has no plans to consolidate Marvel Studios, currently headquartered in Manhattan Beach, CA, into its Burbank operations.

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