(LA Times) – Pixar Animation Studios shares soared to a record high Wednesday amid speculation that the company behind "Finding Nemo" and "The Incredibles" is on the verge of a new deal with – and possibly sale to – longtime partner Walt Disney Co. The nearly 8% jump in Pixar's stock, to $58.16 a share, comes as Chief Executive Steve Jobs and Disney Chief Executive Robert Iger have been negotiating to extend their companies' long-term distribution pact that ends this summer with the release of Pixar's "Cars." Recent talks have focused increasingly on Disney acquiring part or all of Pixar, two sources close to the matter said Wednesday. In that scenario, Jobs would become a major Disney shareholder and possibly the company's chairman. The sources would not speak on the record because talks were ongoing. The sale speculation became feverish Wednesday afternoon on Wall Street, causing Pixar stock to jump $4.20 in heavy trading. That increased the value of Jobs' controlling stake by $250 million to nearly $3.5 billion. "The activity in the stock today indicates to us that the market believes that some type of announcement is imminent, whether it's a new distribution deal or something broader in scope," said media analyst Michael Savner of Banc of America Securities. Disney spokeswoman Zenia Mucha said that negotiations were continuing between the two companies and that there was "nothing new to report." A Pixar executive declined to comment.
That would be awesome. After 15 years of flat Disney gains, it's nice to see movement in a stock that covers way too much of my holdings.
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