Apple Computer co-founder reaps a billion on stock issue
Article Abstract:
Pixar Animation Studios's initial stock offering issued shares at $22 each, but they rose to $49.50 before closing at $39 per share, making owner Steven P. Jobs' stock worth $1.17 billion. Jobs retained 30 million shares, or over 80% of the company's stock. Jobs acquired Pixar for $60 million in 1986, at which time the company produced expensive graphics equipment and software. Jobs shifted the company's focus to computer animation, which had been the ultimate goal for the company's founders. Pixar's stock offering followed on the heels of the successful release of 'Toy Story,' a computer-animated feature-length movie that Pixar created for Disney. Jobs came to Pixar after being forced out of Apple, the company he co-founded in 1976, and after failing to make a success of his NeXt computer company. Pixar had lost money every year from 1990 to 1995 until the release of Toy Story altered the trend.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Companies roll the dice on digital videodisks; high quality and small size are cited
Article Abstract:
Consumer electronics equipment and computer manufacturers are releasing DVD-related products with the expectation that consumers will embrace the new video technology. The companies anticipate a demand for DVD players now that several Hollywood studios have released movies in that format. A preview of the new products is expected at the Jan 1997 Consumer Electronics Show. Intel will demonstrate its PC DVD-ROM drive. The company predicts that such equipment will be priced for home users by 1998, when its P6 processors with MMX multimedia technology become available. DVD-ROM disks store 4.7GB of data, over seven times the storage capacity of CDs. Second generation disks are expected to be recordable and to have a 20GB capacity. Release of DVDs was delayed over arguments about standards and the establishment of a piracy protection system.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: How a computer sleuth traced a digital trail. Co-author of Macintosh program quits Apple. Report backs U.S. program for computer development
- Abstracts: NEC and Packard Bell in deal to create the no. 4 PC maker. NEC raising its Packard Bell stake to 49%. AST is in talks with Samsung
- Abstracts: Saying it has a future, Apple puts its past on the podium. Apple is hoping its founder can rediscover his old magic
- Abstracts: America Online has gain of 900,000 new customers; but rival Prodigy is still floundering. Performance Systems buys Pipeline Network
- Abstracts: Bell Atlantic to drop AT&T as builder of video network. Conferees agree to keep limits on cable TV rates for 3 years