Disney Purchases Club Penguin in $700 Million Deal
Club Penguin is now Disney's Club Penguin. The Walt Disney Company has announced its acquisition of the successful, snow-laden virtual world for kids, as part of its stated objective of "establishing clear leadership in the kids and families online virtual worlds space around the globe.”
PaidContent.org is reporting the acquisition to the tune of $350 million up-front, with the opportunity to earn out an additional $350 million by 2009.
“This acquisition is consistent with our strategy of leveraging technology to create and deliver high-quality entertainment around the world and our commitment to investing our capital to generate growth and value for our shareholders,” said Bob Iger, Disney president and CEO.
“We have been actively searching for an organization that not only shares our values and concerns for children, but also has the ability and desire to help us bring Club Penguin to more children throughout the world. We’ve found that partner in Disney,” said Lane Merrifield, one of Club Penguin’s three founders. “As a former employee of Disneyland, I’ve always had a great respect for what Walt created. When he first envisioned Disneyland, he wanted to create a safe place that he and his daughters could enjoy. In the process of creating Club Penguin, we shared that passion and often pulled from Walt’s vision in the hope of creating a unique place online that we would be comfortable letting our own children visit.”
Disney’s Club Penguin will retain the original URL (www.clubpenguin.com) and its home base in Kelowna, British Columbia. The company’s three founders, Lane Merrifield, Dave Krysko and Lance Priebe, will join Disney and continue as Club Penguin senior management; Merrifield will also become an EVP ofThe Walt Disney Internet Group (WDIG), reporting to WDIG President Steve Wadsworth.
“Club Penguin is going to continue to exist as is. ... The experience will not change at all. It will continue to evolve.” Iger said. “We really don’t intend to get in the way of that or do anything by virtue of the way we own it.”
With the help of WDIG resources, though, Club Penguin's poised to go international, with plans to create versions in Europe, Asia, and the Americas, as WDIG and Club Penguin management aim to integrate Club Penguin into the Disney-connected entertainment network over time.
Worlds in Motion toured Club Penguin as part of our ongoing Online World Atlas -- you can see our comprehensive tour here.
Comments
i think everyone should be able to to buy clothes if they are not a member of club penguin
Posted by: bayden | August 6, 2007 4:04 AM
Before CP changed hands they would answer support questions within 2 days. I have been begging for 4 days now for a response. I know you are busy but this is a big deal to me. Here is a copy of my problem:
I have not hear back from you after 4 days now. I am shocked and dissapointed. I am one of the less than 6% who actually pay for CP and have been with you for a long time. I have been responsible for atleast 30 or more people joining & most are still with you even though lots have switched to toon town and webkins. We stay. Before you changed you always got back to us in 2 days. I earned those coins fair and square and it was hard. I don't understand why you would take them away from me. If it was a mistake PLEASE return them. I was earning them to buy the new furniture on Friday. :( :( :(
Here is a COPY of my problem:
I earned over 20500 coins on Cart Surfer Friday from 11:30pm - 1:00am EST. I went to my igloo to feed my puffles and change my penguins clothes and CP logged me off. When I went back on all my coins were gone like I never earned them.
I have begged you to get back to me. I know you are busy, but PLEASE let me know what is going on here. I know you keep record of everything so my story should be easy to confirm.
Posted by: gfshortcake | October 9, 2007 9:29 AM
the company aloud you to bye a puffal so i did i bout a blue and red one. the i log off and latter got on agen i wen to my house and they went there so i went to the pet store and found out they took it away because you had to be a member my money was also tooking. i stoped playing after that.i THINK YOU SHOULD NOT HALF TO BE A MEMBER TO GET THE FUN STUFE.so it would be nice to tack that out
Posted by: tamara | December 16, 2007 6:12 PM
hola como es la pajina
Posted by: maria | January 8, 2008 2:14 PM
wow?I GESS. penguin(S) should be aBLE TO NOT BUY THINGS. BUT THEY SHOLUD GET STUFF FOR FREE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! DON'T YOU THINK!!!!! AND I THINK YOU GUYS SHOULD JUST MAKE CLUB PENGUIN $3,000. 99 DOLEERS!IF I OWNED CP I WOULD DO THAT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! IF YOU THINK THAT EMAIL ME AT CALIWISHIS@GMAIL.COM P.S. I HOPE YOU MAKE ME A MOTAR SO I CAN BANN PENGUINS IF THEREC MEAN TO ME.
Posted by: caliwishis | April 2, 2009 10:39 PM