Steve Jobs will be missed in the world of technology, but he also held a unique position in the history of the Disney company:
In 1986, Jobs bought The Graphics Group (later renamed Pixar) from Lucasfilm’s computer graphics division for the price of $10 million. After years of unprofitability selling the Pixar Image Computer, it contracted with Disney to produce a number of computer-animated feature films, which Disney would co-finance and distribute. The first film produced by the partnership, Toy Story, brought fame and critical acclaim to the studio when it was released in 1995. On January 24, 2006, Jobs and Disney’s Bob Iger announced that Disney had agreed to purchase Pixar in an all-stock transaction worth $7.4 billion. Once the deal closed, Jobs became The Walt Disney Company’s largest single shareholder with approximately 7% of the company’s stock. Jobs joined the company’s board of directors upon completion of the merger. Jobs also helped oversee Disney and Pixar’s combined animation businesses with a seat on a special six person steering committee.
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