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Finally, closure: After some aggressive flirtation, Disney's Robert Iger and Pixar's Steve Jobs were finally permitted by their respective boards to succumb to their mutual lust, shed their inhibitions, and fall into Jobs' rotating, Mickey-shaped waterbed in a tangle of mouse ears and iPod accessories to "complete the transaction." The two companies have announced that Disney will swallow up longtime hitmaking partner Pixar. and the pair shared a sweet, postcoital cigarette to celebrate the love that once seemed all but snuffed out by a sour break-up with former Disney boss Michael Eisner:

"With this transaction, we welcome and embrace Pixar's unique culture, which for two decades, has fostered some of the most innovative and successful films in history," Disney Chief Executive Robert Iger said in a statement. [...]


"Disney and Pixar can now collaborate without the barriers that come from two different companies with two different sets of shareholders," Jobs said in a statement. "Now, everyone can focus on what is most important, creating innovative stories, characters and films that delight millions of people around the world."

After the jump, the Official Defamer Correspondent On All Things Disney offers some thoughts on the deal:

- Lasseter takes over Disney Features, Pixar Features and has a major role in theme parks. That's a HUGE reach. (Yes, it reads that Pixar President Ed Catmull will head up all animated movies, but no one believes that.) - There's only been one other "Chief Creative Officer" at Disney (Lasseter's new title) and his name was Walt. - Lasseter takes over Imagineering. This also is big, as he takes over theme park rides as well. - The SF offices will not move. For now...keep your eye on this one.