Club Penguin Waddles To Disney’s World For $350 Million
“Club Penguin embodies principles that are of the utmost importance to Disney â€” providing high-quality family entertainment and fostering parental trust,” stated Bob Iger, the President and CEO of Disney. “The founders have woven together new technologies and creativity to build an incredibly compelling, immersive entertainment experience for kids and families.”
The last time I wrote about Club Penguin was May 16, 2007. It was in regards to Sony pursuing a potential acquisition of Club Penguin for $450 million. However, The Walt Disney Company (NYSE:DIS) announced today that they have acquired Club Penguin for $350 million.
The biggest benefit of Club Penguin is that it is a safe social network for children and is heavily regulated. “We have been actively searching for an organization that not only shares our values and concerns for children, but also has the ability and desire to help us bring Club Penguin to more children throughout the world,” stated Lane Merrifield, one of Club Penguin’s co-founder. “We’ve found that partner in Disney.”
Disney does not seem to want to change Club Penguin’s operations as far as making the founders relocate from Kelowna, Canada. But I would not be surprised if Disney starts integrating some of their trademark characters into the system, especially during peak blockbuster release seasons. There is a Welcome Club Penguin message on the Disney homepage already: http://home.disney.go.com/index@amitchowdhry or on Google+ at +AmitChowdhry