Transactions
Aug. 8, 2007
Mousetrap Captures Penguins
The mouse has made friends with the penguin. At least in cyberspace. Walt Disney Co. agreed to acquire Club Penguin, a fast-growing online virtual world, for $350 million in cash.
By Jason Song
The mouse has made friends with the penguin. At least in cyberspace.
Walt Disney Co. agreed to acquire Club Penguin, a fast-growing online virtual world, for $350 million in cash. Disney also agreed to pay an additional $350 million to Club Penguin's founders if the site, which has 700,000 paid subscribers, meets certain benchmarks through 2009.
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