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Tue, Oct 30 2012 20:03:11 UTC
Disney buys Lucasfilm, new Star Wars movie in 2015
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Some big news hit today through a press release
from the Walt Disney Company, announcing that they would acquire Lucasfilm Ltd, including the legendary Star Wars franchise. Also, the release says that a new Star Wars movie, Episode 7, is targeted for release in 2015.
The Walt Disney Company has agreed to acquire Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is currently owned by Lucasfilm Chairman and Founder, George Lucas. Under the agreement, the buying price comes up to around $4.05 billion, with half being paid in cash and the remainder in stocks. Lucasfilm will now join other Disney properties like ESPN, Pixar, Marvel and ABC.
The Star Wars franchise is also part of the deal. Kathleen Kennedy, current Co-Chairman of Lucasfilm, will become President of Lucasfilm, and will act as executive producer for the next Star Wars movie, Episode 7. More feature films are also planned to grow the franchise well into the future, as announced in the investors call, with Episodes 8 and 9 already planned, and a new film every 2 to 3 years.
The Boards of Directors of Disney and Lucasfilm have approved the transaction, which is still subject to approval by regulators.