The Walt Disney Company has acquired Club Penguin, an online virtual world for kids ages 6-14. Since its launch in October 2005, Club Penguin has grown to more than 700,000 current paid subscribers. The site has more than 12 million activated users. Company founders Lane Merrifield, Dave Krysko and Lance Priebe join Disney and remain the senior management team of the unit. Merrifield, Club Penguin’s chief executive officer, will become an executive vice president of The Walt Disney Internet Group (WDIG), reporting to WDIG President Steve Wadsworth. Disney plans no immediate changes to the operation or business model of Club Penguin.