Student Name: Case Assignment: Disney & Pixar Note: Disney did buy Pixar in 2006. However, the acquisition might not be the best option for Disney and Pixar at that time. When analyzing these questions, assume we were in 2005, and the acquisition has not happened. Which is greater: the value of Pixar and Disney in an exclusive relationship, or the sum of the value that each could create if they operated independently? Why? Assuming that Pixar and Disney are more valuable in an exclusive relationship, can that value be realized through a new contract? Or is common ownership required (i.e., must Disney acquire Pixar)? If Disney acquires Pixar, how should Bob Iger and his team organize and manage the combined entity? What challenges do you foresee?

Student Name: Case Assignment: Disney \& Pixar Note: Disney did buy Pixar in 2006. However, the acquisition might not be the best option for Disney and Pixar at that time. When analyzing these questions, assume we were in 2005, and the acquisition has not happened. Which is greater: the value of Pixar and Disney in an exclusive relationship, or the sum of the value that each could create if they operated independently? Why? Assuming that Pixar and Disney are more valuable in an exclusive relationship, can that value be realized through a new contract? Or is common ownership required (i.e., must Disney acquire Pixar)? If Disney acquires Pixar, how should Bob Iger and his team organize and manage the combined entity? What challenges do you foresee