Questions (and Answers) About Disney's Acquisition of Marvel

This morning, Disney CEO Bob Iger, Disney Senior EVP and CFO Tom Staggs, and Marvel's chairman of the board Mort Handel explained what the deal, which is still pending, could mean for investors and fans of both companies' properties.

Handel called Disney "the perfect home" for Marvel's 5,000 characters. Iger said Marvel's business "meshes perfectly with Disney's business structure" and that rather than absorb or Disney-fy Marvel, he hopes that the deal will "put a brighter spotlight on the Marvel brand." Marvel's editor in chief Joe Quesada, who was not on the call, did his best to calm nervous Marvel fans when he tweeted, "Everybody take a deep breath, all your favorite comics remain unchanged." He also tweeted that the mood at Marvel's New York editorial offices was "like Christmas morning."

Here are some questions that observers might be asking:

Why make this deal now?

"We're acquiring a premium company with a premium set of assets at a premium price," Staggs told callers. "We think that we will create value over and above the purchase price by bringing them in." Iger added, "This is a company that we admired, that we saw growing right before our eyes." He also noted that it's "not just about buying great stories and a brand," but a team of Marvel creators who can see them through. "We don't pretend to be more expert at this than they."

When will the deal be done?

Iger said he hopes to complete the deal by the end of the year. Probably not soon enough for Disney to get a piece of Iron Man 2, however.

What happens to Marvel's standing deals with Universal, Fox, Sony, and Paramount to distribute their films?

Staggs suggested the deals would stay as they are, pointing to Marvel's agreement with Paramount from last year that calls for another five movies, including a sequel to Iron Man, as well as Kenneth Branagh's adaptation of Thor.

Iger said that Disney would "respect the deal that's in place" for a given Marvel movie, but made it clear that distributing future Marvel films in house would be in "our best interest and more attractive to us over time."

Staggs was clear to point out that no changes would be in the offing yet: "Bear in mind, until the deal closes, we are not operating [Marvel] or making their decisions."

Will Marvel move its studio from Manhattan Beach, California, to Disney's lot in Burbank?

Nope. But we do wonder about the menagerie of Marvel characters currently wandering around Universal Studios, including Spider-Man who has his own 3-D thrill ride. Surely Disney will want to bring him home, right?

Will we see partnerships between Marvel and Disney's Pixar?

Fanboys take note: "John Lasseter met with some of the key Marvel creative executives…the group got pretty excited pretty fast…. 'Sparks will fly' is the expression that comes to mind." One analyst on the line quipped that Spider-Man could do a crossover in a sequel to A Bug's Life. (That's why they're analysts, not producers.)