Disney buys Club Penguin for 350 million
Friday, August 3rd, 2007Disney acquires Club Penguin for 350 million USD.
Club Penguin, an online hangout that has quickly become a rage among preteens despite limited marketing and advertising efforts, has been purchased by the Walt Disney Co. for at least $350 million, the companies announced Wednesday.
Payments could double to as much as $700 million if profits grow, Disney Chief Financial Officer Thomas O. Staggs said.

