When Disney shuts down Marvel Entertainment, the biggest names in entertainment will still be there
The Disney-owned animated film studio that launched in 2006 is expected to remain alive as an independent studio with the help of Marvel Entertainment and Universal Studios.
The Walt Disney Co. announced on Tuesday that the studio will not be sold to a buyer, and that the film studio will be rebranded Disney Infinity.
The studio’s latest animated film, Monsters University, will also remain in development.
Disney Infinity will have a live-action version of the film that is similar to the original.
The new company, which is not owned by Disney, will be known as Marvel Entertainment after the studio’s chief executive officer, Kevin Feige, took over from co-founder and chief executive Jim Morhaime.
The film studio has been working on a live action version of its popular video game franchise since last year, with Disney Animation Studios creating the character characters and the studio also developing a Marvel character.
The news is a blow to the animation studio that is expected, along with Disney and Pixar Animation Studios, to become the largest creator of original animated films in history.
The studios, along in the world of animation, had been in talks to buy the Disney studio, which was founded by Disney founders Jeffrey Katzenberg and Bob Iger.
Katzenberg said on Twitter that he was pleased with the news.
“Disney Infinity has the potential to be the next big innovation in the video game industry,” he wrote.
“As we look to the future, we’re thrilled that Disney will continue to be a part of it.”
He added: “We’re grateful to be part of the Disney Infinity family.”
The acquisition of the studio was first reported by the Wall Street Journal on Tuesday.