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One media report said that the shares of Pixar climbed more than
three per cent as a result of a rumor that Sony was planning to
make a bid for the computer animation company.
Pixar has made box office hits like Finding Nemo, Monsters
Inc. and Toy Story. The media report said that Pixar's
shares jumped $2.30 to $68.11 in heavy trading that saw it surge
at mid-day to $70.50, as Wall Street talked up the possibility of
a $4.1 billion bid from Sony. On the other hand, Sony rose 76 cents
to close at $42.15.
As nearly every media giant is being looked at as a match-up partner
these days, Comcast's hostile bid for Disney may just be the first
of more such show biz deals to come.
It is being speculated that the rumors may have erupted because
Sony Pictures had very recently opened up talks with Pixar about
striking a distribution agreement.
Pixar has been eyed by nearly every studio in Hollywood ever since
it abruptly broke off talks with Disney over handling its distribution.
The report said that there were no official comments Sony and Pixar
over the rumours afloat in the market.
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