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June 08, 2005

Disney and Pixar Renew Negotiations

Walt Disney Co. has opened negotiations with Pixar Animation Studios to extend their movie-distribution deal, Disney President Robert Iger said Tuesday."We'd certainly like to figure out a way to continue to do business with them," Iger, 54, said during a Deutsche Bank conference in New York. "I think that's mutual. We've gotten to understand the issues that are most important to both sides, whether they're financial or creative."The partnership, scheduled to expire next year, has already generated $3.2 billion in worldwide box-office receipts.Iger's comments followed a remark last month that the companies had held "informal talks." The discussions signal relations between Disney, the No. 2 media company, and Pixar have warmed since Iger was picked to succeed Michael Eisner, 63, as chief executive officer in September. Eisner clashed with Pixar CEO Steven Jobs.

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