Television and film studio Relativity Media has offered $500 million in stock for Maker Studios, whose shareholders are scheduled to vote on Tuesday on a bid by the Walt Disney Co, the Wall Street Journal reported, citing a letter. Relativity also offered an additional $400 million in stock if some financial targets are met, according to its letter to the board of Maker, one of the largest video production networks on Google Inc's YouTube. (r.reuters.com/kyc58v)Disney agreed to purchase Maker last month for $500 million in cash. The price could rise to $950 million if Maker hits some performance milestones.The Relativity bid would have no effect on the Disney-Maker deal as the companies have a binding agreement, the Journal said, citing a person close to the Disney-Maker deal.Danny Zappin, Maker Studios' co-founder and former chief executive, filed a lawsuit to prevent the shareholder vote, according to a report on Thursday.
The Walt Disney Company, together with its subsidiaries, is a diversified worldwide entertainment company. Shares of DIS fell by 0.65% or $-0.5/share to $77.01. In the past year, the shares have traded as low as $58.84 and as high as $83.65. On average, 7542330 shares of DIS exchange hands on a given day and today's volume is recorded at 9206216.
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