When Mickey bites into the Apple ! ....new season starting soon !

In an interesting development that could change the job profile of Steve Jobs from being the Chairman of Pixar Animation Studios to the largest shareholder of Walt Disney, Walt Disney Co. is considering buying out Pixar for no less than $ 6.7 billion!

It may be recalled that, Pixar, founded by Apple Computer supremo Steve Jobs, has worked in partnership with Walt Disney to produce some of the most spectacular, computer animated, award winning films such as Toy Story, Finding Nemo and The Incredibles. The partnership has been hugely profitable for both sides, generating over billion in box office revenues over 12 years. Pixar, which is based in Emeryville, is the most-successful maker of the computer-animated films that have, in recent years taken over Disney's traditional animation as the preferred source of entertainment.

It may be noted that until quite recently, during all of their 12 year long partnership, each of Disney and Pixar had fixed, modular responsibilities. While Pixar made the movies, they were co-financed and distributed by Disney.

Encouraging such partnerships, Kathy Styponias, media analyst at Prudential Securities, said, “It is critical that media companies gain a greater understanding of technology and the impact it may have on their businesses. No company understands technology and the consumer better than Apple.�

The merger is especially significant for the corporate world as the partnership was going through a rough patch due to the publicly acclaimed acrimonious relationship between the Disney’s then chief executive Michael Eisner and Pixar's Chairman Steve Jobs.

In fact, two years ago Mr Jobs said he would seek a new distribution partner when the current arrangement ends later this year amid disagreements with Disney’s then chief executive Michael Eisner. However, things have looked up ever since Robert Iger took over as Disney’s chief executive.

Reacting positively towards the development, Pixar shares hit the high of .89 earlier today. While those of Disney declined 29 cents to .91 on the New York Stock Exchange. They had advanced 5.1 percent this month.

No official statement has been made confirming this acquisition by either of the companies.