Disney CEO kept Steve Jobs' cancer a secret to push through $7billion Pixar animation deal, new book claims
- New Steve Jobs biography 'Becoming Steve Jobs' details claims
- Walt Disney CEO Bob Iger purposely kept Steve Jobs' cancer a secret
- Hour before Pixar deal, in private, Jobs revealed that his cancer was back
- Iger argued the value of Pixar was not about Jobs or his illness but the firm
- Pixar deal was finalized in 2006 making Jobs' Disney's largest shareholder
A new biography makes the startling claim that Walt Disney CEO Bob Iger purposely kept Steve Jobs' cancer a secret despite learning that he was very sick hours before his company bought the animation studio.
Iger learned that Job's cancer had returned half an hour before Disney announced it was buying Jobs' Pixar studio in 2006.
But in an extraordinary show of faith the CEO of Disney decided to keep the Apple co-founder's condition a secret for three years, according to a new biography of Jobs obtained by Bloomberg.
![Secret pact: Steve Jobs, right, talks with Walt Disney Company CEO Bob Iger at an Apple media event in 2006, a new book makes the startling claim that Iger purposely kept Jobs' cancer a secret despite learning that he was very sick hours before buying Jobs' Pixar](https://i.dailymail.co.uk/i/pix/2015/03/22/15/26E4D71F00000578-3006469-image-a-19_1427037273711.jpg)
Secret pact: Steve Jobs, right, talks with Walt Disney Company CEO Bob Iger at an Apple media event in 2006, a new book makes the startling claim that Iger purposely kept Jobs' cancer a secret despite learning that he was very sick hours before buying Jobs' Pixar
![Confession: On the day of the deal in 2006, the pair found a secluded spot on the Pixar campus in Emeryville, California, pictured, where Jobs put his arm around Iger's shoulder and revealed that his cancer was back](https://i.dailymail.co.uk/i/pix/2015/03/22/15/26E4D72F00000578-3006469-image-a-26_1427037590685.jpg)
Confession: On the day of the deal in 2006, the pair found a secluded spot on the Pixar campus in Emeryville, California, pictured, where Jobs put his arm around Iger's shoulder and revealed that his cancer was back
In the book titled 'Becoming Steve Jobs' by Brent Schlender and Rick Tetzeli, due to be published on March 24, details emerged of the business pact that made Jobs' Disney's largest shareholder.
Iger reasoned that Disney's $7 billion deal for Pixar was not about Jobs or his medical condition so it did not need to be disclosed, according to the biography.
The book details how Iger told Jobs: 'You're our largest shareholder, but I don't think that makes this matter. You're not material to this deal. We're buying Pixar, we're not buying you.'
Jobs, the prolific co-founder of Apple, was first diagnosed with pancreatic cancer in 2003. He underwent surgery to remove it in 2004, but the tumor returned and he had a liver transplant in 2009.
The book details how on January 24, 2006, the proposed day of the deal, Iger was at Pixar's headquarters for the ceremony when Jobs asked to go for a private walk.
As the pair found a secluded spot on the campus in Emeryville, California, Jobs put his arm around Iger's shoulder and revealed that his cancer was back.
![](https://i.dailymail.co.uk/i/pix/2015/03/22/15/26E4D72300000578-3006469-image-m-23_1427037401675.jpg)
![](https://i.dailymail.co.uk/i/pix/2015/03/22/15/26E4D6FF00000578-3006469-image-a-24_1427037416840.jpg)
Secret: Iger, right, reasoned that the $7 billion deal was on the value of Pixar, not Jobs, left, or his medical condition, so, after consulting a lawyer, the deal went ahead
![Pixar deal: Steve Jobs, famous founder of Apple Computer, sits beneath the symbol of another of his ventures, Pixar Animation Studios, on January 24, 2006, Disney bought the firm for $7 million, despite Job's cancer](https://i.dailymail.co.uk/i/pix/2015/03/22/15/26E4D74100000578-3006469-image-a-35_1427037728526.jpg)
Pixar deal: Steve Jobs, famous founder of Apple Computer, sits beneath the symbol of another of his ventures, Pixar Animation Studios, on January 24, 2006, Disney bought the firm for $7 million, despite Job's cancer
![Marriage: Steve Jobs and his wife, Laurene Powell, are pictured at the Pixar Exhibit Launch 2005. The couple married in 1991, and she, along with his doctor, were the only ones who knew he had cancer at first](https://i.dailymail.co.uk/i/pix/2011/10/06/article-2045852-0E40411D00000578-210_634x709.jpg)
Marriage: Steve Jobs and his wife, Laurene Powell, are pictured at the Pixar Exhibit Launch 2005. The couple married in 1991, and she, along with his doctor, were the only ones who knew he had cancer at first
![Pixar: Ralph J. Guggenheim (right), an executive at Pixar Animation Studios, talks with an animator in the office. The firm has become a powerhouse animation studio for Disney, responsible for producing hits like Toy Story](https://i.dailymail.co.uk/i/pix/2015/03/22/15/26E4D74700000578-3006469-image-a-36_1427037818021.jpg)
Pixar: Ralph J. Guggenheim (right), an executive at Pixar Animation Studios, talks with an animator in the office. The firm has become a powerhouse animation studio for Disney, responsible for producing hits like Toy Story
Iger said Job's confided: 'Frankly, they tell me I've got a 50-50 chance of living five years.'
Iger added: 'So I look at my watch and we've got 30 minutes. In 30 minutes, we're going to make this announcement. We've got television crews, we've got the board votes, we've got investment bankers.
'The wheels are turning. And I'm thinking, 'We're in this post Sarbanes-Oxley world, and Enron and fiduciary responsibility, and he is going to be our largest shareholder and I'm now being asked to bury a secret.'
Up until that point, only Jobs' wife Lauren Powell and his doctor knew he had cancer.
According to excerpts from the book, after Jobs' revelation, Iger asked Alan Braverman, Disney's top lawyer for advice. Braverman quickly agreed that Disney could go ahead with the acquisition. So the deal was done.
However, just three years later, Jobs took a medical leave of absence.
Iger said: 'In that three-year period, I always knew exactly what was going on with Steve medically. He and I would talk all the time, and since I kept things secret he confided in me.'
The book, which will be published on Tuesday, paints a more sympathetic picture than the 2011 biography by Walter Isaacson, which focused on Jobs' messy personal life and tough temperament.
The Apple co-founder died in October 2011.
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