Disney Buys Lucasfilm and Announces Episodes 7,8 and 9

The Disney Company has agreed to acquire Lucasfilm and the legendary Star Wars and Indiana Jones franchises, including Industrial Light and Magic and Skywalker Sound.

Under the terms of the agreement, Disney will buy Lucasfilm for $4.05 billion, consisting of approximately fifty percent cash and fifty percent in Disney stock. Based on Friday’s (10-26-12) closing price of Disney stock. The Lucasfilm acquisition follows Disney’s successful acquisitions of Pixar and Marvel.

George Lucas

George Lucas, said. “For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next. It’s now time for me to pass Star Wars on to a new generation of filmmakers. I’ve always believed that Star Wars could live beyond me, and I thought it was important to set up the transition during my lifetime. I’m confident that with Lucasfilm under the leadership of Kathleen Kennedy, and having a new home within the Disney organization, Star Wars will certainly live on and flourish for many generations to come.”

George handpicked Kathleen Kennedy earlier this year to lead Lucasfilm. She’ll join Disney as President of Lucasfilm, reporting to Walt Disney Studios Chairman Alan Horn.

Disney also announced they are moving forward with plans to continue the Star Wars saga and are planning to release Star Wars Episode 7, the first feature film under the “Disney-Lucasfilm” brand. That will be followed by Episodes 8 and 9. Disney’s long term plan is to release a new Star Wars feature film every two to three years.

George Lucas will be creative consultant on the new Star Wars films and Kathleen Kennedy, will executive produce. The last Star Wars movie released was 2005’s Revenge of the Sith.

Lucasfilm LTD. was founded by George Lucas in 1971 and is headquartered in San Francisco, California.

Categories: Star Wars

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