Disney has just purchased Pixar Entertainment for $7.4 Billion (that's billion with a B). According to the Reuters news story Steve Jobs will be given a seat on the board of directors and will also become the single largest share holder with a whopping 6% stake in Disney. George Lucas started the computer effects company back in 1984 and later sold it to Steve Jobs 2 years later for $10 Million. Pixar's history under Steve Jobs rule has been nothing short of spectacular. Pixar is expected to release their latest full length animated feature movie Cars on June 9th, 2006.