The Walt Disney Company Acquiring Lucasfilm Ltd.
The Walt Disney Company has agreed to acquire Lucasfilm Ltd. in a stock and cash transaction worth $4.05 billion. Disney will also acquire LucasArts, Industrial Light & Magic, and Skywalker Sound, with the present intent being for Lucasfilm employees to remain in their current locations.
CEO of Lucasfilm, George Lucas, had this to say about the deal:
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. Disney’s reach and experience give Lucasfilm the opportunity to blaze new trails in film, television, interactive media, theme parks, live entertainment, and consumer products.
Disney also confirmed that a new film in the Star Wars saga dubbed ‘Star Wars Episode 7′ will be released in 2015. George Lucas will serve as a creative consultant on the film and Disney plans to continue creating Star Wars feature films ‘well into the future.’