Studios anxiously jockey to court Pixar as jobs patiently revels in new control.

Everyone wants to take Steve Jobs to the big dance.

But like the homecoming queen with a choice of all the varsity captains, Jobs, chairman and chief executive of Pixar Animation Studios, is playing coy. He might even get back with his old beau.

With its five computer-animated films generating more than $2.6 billion in worldwide box office, Pixar's highly publicized split from distribution partner Walt Disney Co. sent hearts aflutter throughout Hollywood.

But after an early flush of excitement, Jobs has signaled very directly that he's not rushing into any new relationships. "Everybody's been sort of stiff-armed," said a source at one of the studios with an interest in distributing Pixar's films.

In the week following Pixar's January announcement that it had stopped negotiating a contract renewal with Disney, Jobs told analysts that he had fielded phone calls from every major studio head.

"It is clear that we are wanted by others, and we will begin discussions with these studios in March with the goal of striking a new deal with one of them by this fall," Jobs said in a conference call.

The pact with Disney is set to expire in 2005 after the release of the last two films under the contract, "The Incredibles" and "Cars." The two companies split box office and licensing revenues evenly, with Disney receiving an additional distribution fee estimated at 15 percent of box office revenues.

Officials of Sony Pictures Entertainment and Paramount Pictures did not return calls seeking comment. Spokespeople at Warner Bros., Metro-Goldwyn-Mayer Inc., Disney, Universal Pictures and Fox Film Entertainment declined comment.

At the heart of Jobs' stall, say industry sources, is his desire to have Pixar's new chief financial officer, Simon Bax, fully ensconced before serious negotiating begins. "If you're going to negotiate, you need to have your CFO there," said a studio source.

Pixar officials declined to comment for this story.

Bax could be in place at Pixar's Richmond offices sometime in the coming three weeks. A former finance director at ad firm Chiat/Day/Mojo Worldwide, he more recently served a seven-year stint as CFO of Fox Filmed Entertainment.

Meantime, the studios are jockeying for position.

"It's like at the beginning of a marathon," said the studio source, "when everybody is budging each other at the starting line."

Pixar was born as the special effects computer group Lucasfilm Ltd., which sold the division in 1986 for $10 million to Jobs, who renamed it Pixar.

The following year, Pixar won the first of its 13 Academy Awards, for a short film, "Luxo Jr." In 2003, its feature-length "Finding Nemo" won the Oscar for Best Animated Feature.

Its distribution deal with Disney was signed in 1991, covering the release of three feature-length animated films, the first of which was "Toy Story" in 1995.

Based on the strength of the film, which cost an estimated $30 million to make and generated nearly $200 million in domestic box office, the company went public in 1995. In raising $140 million, the offering topped Netscape Communications' IPO as the biggest of the year.

Pixar and Disney renewed their distribution deal in 1997, before Pixar had delivered the last two films under the old agreement. The renewed agreement folded the unmade movies into a five-film deal. (Sequels, including "Toy Story 2," were not counted under the contract.)

What followed was a string of box office successes: "Toy Story 2," "A Bug's Life," "Monsters, Inc." and "Finding Nemo." Pixar and Disney began negotiating an extension of the contract in 2003, but after 10 months, Pixar cut off talks.

When Jobs and Eisner were trying to hammer out a new deal last year, the two made it no secret, meeting at least once at a Bay Area eatery.

But for all the publicity Pixar generated in its well-chronicled rift with Disney, it is being cautious in going forward for fear the glare of publicity might scare off some interested parties. In fact, many of the discussions are likely to take place near Pixar's Northern California base.

"Is (Jobs) dealing from a very strong hand? Absolutely. Does that change the dynamics of the negotiation? You betcha," said the studio source. "Compared to 10 years ago, it's a different ball game."

Still, the long and successful relationship with Disney gives it an inside track despite any clashes between Jobs and Eisner.

"It's my impression that Pixar's people and Steve Jobs would prefer to be in bed with Disney," said the studio source.

The action taking place on Pixar's turf has left many in Hollywood to handicap the players and terms from afar. It was suggested that Pixar would likely seek a lower distribution fee, more up-front financing for its films and a greater cut of revenue.

"Those animated projects are not inexpensive," said Howard Fabrick, a partner with Akin Gump Strauss Hauer & Feld LLP. "There's several years to mount one of those projects. So there's a lot of money laid out before you see Dime One."

Aside from specific terms of a deal, the studios could be in for a complicated courtship, where longtime relationships between executives could be just as important as economic terms.

A key question for the movie studios is the nature of Bax's relationship with Fox.

The Hollywood Reporter said Bax left the studio to pursue a chief executive's spot, and that he was not limiting the search to the entertainment industry. Bax did not comment to the trade publication.

"Obviously Fox is going to think it's in a very good position to deal with them," said the studio source. "Basically, if he stayed at Fox, he would be the guy negotiating with Pixar. And now he's on the other side of the table. So if I'm Fox, I'm thinking, great, we have one our own guys in the room. We've got to have a leg up, and maybe they do."

While Pixar declined comment on its coming negotiations with studios, a source close to Pixar denied any such favoritism would take place in negotiations.

An official at MGM, now seen as a buyout target of Son3' Pictures Entertainment, also has a relationship with Pixar.

Christopher McGurk, MGM's vice chairman and chief operating officer, was at Disney when that company renegotiated its contract with Pixar in 1991--a process industry sources say could serve him well in coming negotiations.

Without substantial international distribution capabilities--something Pixar is seeking in a partner--MGM was viewed by sources as the least likely of the potential suitors to gain Pixar's business. But if a Sony and MGM were able to consummate a deal, that could change things.

"Yeah, it would help," said a source close to Pixar.