On August 31, 2009, The Walt Disney Company announced a deal to acquire Marvel Comics' parent corporation, Marvel Entertainment, for $4 billion or $4.2 billion, with Marvel shareholders to receive $30 and 0.745 Disney shares for each share of Marvel they own. As of 2008, Marvel and its major, longtime competitor DC Comics shared over 80% of the American comic-book market. As of September 2010, Marvel switched its bookstores distribution company from Diamond Book Distributors to Hachette Distribution Services.