Disney buys Marvel for $4 billion

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Dec 14, 2012, 3:54 PM EST

The Disney Company is buying Marvel Entertainment for $4 billion in cash and stocks, according to an AP report published in USA Today.

In a statement made to the New York Times, Marvel CEO Ike Perlmutter said that "Disney is the perfect home for Marvel's fantastic library of characters given its proven ability to expand content creation and licensing businesses." And even though Perlmutter will continue to oversee Marvel properties after the buyout, just how Disney will be the "perfect home" for characters like the Punisher and Kick-Ass remains to be seen.

With this deal, Disney will have ownership of Marvel's library of more than 5,000 characters, including such icons as the Fantastic Four, the Hulk and such huge box-office powerhouses as the X-Men, Wolverine, Iron Man and Spider-Man.

Robert Iger of Disney also told the Times, "We believe that adding Marvel to Disney's unique portfolio of brands provides significant opportunities for long-term growth and value creation."

As of this writing, Marvel shareholders still need to approve the purchase.