Maker Studios Sticks with Disney’s Acquisition Bid

CULVER CITY: Despite a last-minute offer from Relativity Media, Maker Studios has confirmed that it is already locked into a merger agreement with The Walt Disney Company.

Relativity made an offer of $525 million in cash and stock, plus $500 million in stock if Maker meets certain financial targets, according to The Wall Street Journal. The offer also reportedly included an estimated $100 million in bonus pool money for talent and executives.

However, Disney had already agreed to buy Maker last month for $500 million in cash. The price could go as high as $950 million if Maker hits certain performance goals.

Maker confirmed in a statement: “As per the announcement made on March 24, Maker Studios has entered into a merger agreement with The Walt Disney Company. The agreement has been approved by Maker Studios’ board of directors and the majority of its shareholders and is expected to close in the next few weeks, subject to regulatory approval.”

“We made a compelling offer and believe Maker Studios, its employees and its roster of talent would have greatly benefited from Relativity's platform, its entrepreneurial approach and promising growth potential,” Relativity said in a statement. “We will continue to aggressively explore future opportunities that align with our strategy to accelerate digital content creation and distribution.”