That means that Steve Jobs, who last I heard owned 50.1% of Pixar stock -- he likes doing things his way -- will soon be Disney's biggest shareholder, with about $3.4 billion worth of stock, and no doubt a prominent seat on the board of directors.
So, to be clear about this, Steve Jobs made a buttload of money over at Apple, until the board of directors fired him... at which point he created Next, which had a great operating system, and Pixar, which made the best digital animation in the world.
Apple bought Next for $400,000,000, and made Jobs CEO again. Jobs' shares in Apple are now worth about a billion dollars, and after the Pixar deal, he should be worth about $5 billion... and will once again have his revenge on a company that spurned him.
So, here's my guess on what will happen next.
Jobs will soon become the most important person on Disney's board of directors, and will have a stronger than expected say in what goes on there, even as he rails against Eisner's former cronies. He'll change the company for the better.
Meanwhile, he'll merge Apple with Sony, become their CEO, put out a revolutionary operating system that will power all Macs, all Sony game consoles, and all their electronic devices. The new OS will be ported to Wintel boxes, and so many people will switch to it that Microsoft will be forced to merge with Sony/Apple or die.
Jobs will get his revenge... again, make a lot of great products, piss off the board of directors, get fired, create a competitor that soon outshines his old company, get bought out, and will be named as their CEO... again. He'll merge the Disney/Pixar company with the Apple/Sony/Microsoft company, becoming the new CEO. The new conglomerate will merge with Google and Time/Warner, and will soon control all media companies worth owning.
...at which point Jobs will piss everyone off, get fired again, die, and yet somehow figure out how to get his revenge from the grave and still make a tidy profit. It's the American way, really.