By Carl HoweWhen last we heard about this deal, Sony (NYSE:SNE) was going to buy Club Penguin for $450 million. Now, Disney (NYSE:DIS) has made the deal happen for $350 million to purchase, with a performance bonus of another $350 million if the owners meet some aggressive goals.
We had recommended that Club Pengin talk to Disney and Neopets-owner Viacom (VIA-B) to try to sweeten the deal, and it sounds like it did just that. But mark my words, if it plays its cards right, this deal is going to look as cheap as News Corp.'s (NASDAQ:NWS) purchase of MySpace.com in a few years.
Oh, and if Ganz Corporation ever wanted to take WebKinz.com public, it should be talking to those same conglomerates. Pre-teen Internet sites are about to become much more valuable properties.
And to the three Dads who founded Club Penguin: congratulations. If there were a list of people who deserved to get rich from bringing kids joy, these guys were at the top of the list. Don't let Disney change a thing.