Disney To Buy Lucasfilm And Star Wars Franchise For $4 Billion
The Walt Disney Company officially announced that it is acquiring Lucasfilm Ltd, including the legendary Star Wars franchise, in a stock and cash transaction valued at $4.05 billion.
In a statement Disney CEO Robert Iger had said, "this transaction combines a world-class portfolio of content including Star Wars, one of the greatest family entertainment of all time, with Diney's unique and unparalleled creativity accross multiple platforms, businesses, and markets to generate sustained growth and drive significant long-term value."
The deal denotes that Disney will acquire ownership of Lucasfilm Ltd and its current operating businesses in live action film production, consumer products, animation, visual effects, and audio post production, plus the company's portfolio.
Meanwhile, George Lucas had said, "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 has also revealed that they are also set to release a 7th installment to the franchise (Star Wars Episode 7) in 2015, while Episodes 8 and 9 are in the works as well.
Lucasfilm Ltd, owned wholly by renowned director George Lucas, joins Pixar and Marvel as some of Disney's biggest acquisitions to date.
Lucasfilm employees also expressed their intent to retain their posts at their headquarters in San Francisco, California. George Lucas will continue to be a creative consultant for Disney.