Assuming that Pixar and Disney are more valuable in an exclusive relationship, can that value be realized through a new contract?

Pixar and Disney

A essay about 2000 words base on the PDF answer following question.

1. Which is greater: the value of Pixar and Disney in an exclusive relationship, or the sum of the value that each could create if they operated independently of one another or were allowed to form relationships with other companies? Why?
2. Assuming that Pixar and Disney are more valuable in an exclusive relationship, can that value be realized through a new contract? Or is common ownership required (i.e., must Disney acquire Pixar)?
3. If Disney does acquire Pixar, how should Bob Iger and his team organize and manage the combined entity? What challenges do you forsee (based on points covered in class), and how would you meet them?

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