Disney buys rights to release 'Avengers,' 'Iron Man 3' from Paramount

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The Walt Disney Co. on Thursday named a top Warner Bros executive to head its studio operations, replacing ousted chief Rich Ross who resigned month after the massive box office flop "John Carter."Alan Horn was named chairman of Walt Disney Studios effective June 11, heading up production, distribution and marketing for films from Disney, Pixar and Marvel, and marketing and distribution for DreamWorks Studios.Horn was most recently president and chief operating officer of Warner Bros. Entertainment where he had oversight of theatrical and home entertainment operations.

Wall Street Cheat Sheet submits: Following opening weekend, Iron Man 2 reported a phenomenal $133.6 million in box office ticket sales, Paramount Pictures’ (VIA.B) single best debut of all time, as well as the fifth-best opening weekend in Hollywood history.

One of the strongest contenders for a hit fall series is Disney's "Avengers" spinoff series about S.H.I.E.L.D., Marvel's human intergalactic police force.

The estimated $4-billion deal would give Disney access to a library of more than 5,000 characters and help it strengthen its appeal to the young male audience. Ike Perlmutter, Marvel's CEO, will work directly with Disney to build and integrate Marvel's properties. The Walt Disney Co.