UPDATED: Disney Buys Lucasfilm for $4.05B, Announces Plans for New ‘Star Wars’ Movies
Disney announced on Tuesday that it’s buying Lucasfilm Ltd., the company behind the “Star Wars” franchise, from founder and chairman George Lucas, a deal valued at approximately $4.05 billion dollars.
Disney also announced that a seventh “Star Wars” movie, “Episode 7,” is scheduled for release in 2015, “with plans to follow it with Episodes 8 and 9 and then one new movie every two or three years,” according to the Associated Press.
“It’s now time for me to pass ‘Star Wars’ on to a new generation of filmmakers,” Lucas said in a statement announcing the deal. ” 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.”
“The Walt Disney Co. announced the agreement to make the purchase in cash and stock Tuesday,” the AP report adds. “The deal brings Lucasfilm under the Disney banner with other brands including Pixar, Marvel, ESPN and ABC.”
And, no, it’s not an elaborate hoax. Disney is fully committed to the idea of producing multiple “Star Wars” movies.
“Kathleen Kennedy, the current co-chairman of Lucasfilm, will become its president and report to Walt Disney Studios Chairman Alan Horn. Lucas will be creative consultant on new ‘Star Wars’ films,” the AP report adds.
From the announcement:
Under the deal, Disney will acquire ownership of Lucasfilm, a leader in entertainment, innovation and technology, including its massively popular and “evergreen” Star Wars franchise and its operating businesses in live action film production, consumer products, animation, visual effects, and audio post production. Disney will also acquire the substantial portfolio of cutting-edge entertainment technologies that have kept audiences enthralled for many years. Lucasfilm, headquartered in San Francisco, operates under the names Lucasfilm Ltd., LucasArts, Industrial Light & Magic, and Skywalker Sound, and the present intent is for Lucasfilm employees to remain in their current locations.
Star Wars Episode 7 is targeted for release in 2015, with more feature films expected to continue the Star Wars saga and grow the franchise well into the future.
Lucas himself seems pretty excited about the deal.
“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,” the franchise creator said.
“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,” he added.
Exit Question: Does this mean Leia is now technically a Disney princess?
UPDATE: In a video released on Tuesday, Lucas revealed that he has “story treatments” for at least three more episodes.
What could possibly go wrong? Oh, that’s right:
Follow Becket Adams (@BecketAdams) on Twitter
- ‘The Daily Show’ Creator Makes Outrageously Offensive Anti-Conservative Joke About Okla. Tornado 478 Comments
- Why Were DHS Agents Seemingly Monitoring Multiple Tea Party IRS Protests Across the Country on Tuesday? 398 Comments
- Confusion Erupts in IRS Hearing After Lois Lerner Tries to Plead the 5th — Watch It All Unfold 344 Comments
- University Will Investigate Christian Professor’s Intelligent Design Class Following Atheist Furor 330 Comments
- CNN’s Wolf Blitzer Has Awkward Moment With Okla. Tornado Survivor After Asking If She ‘Thanked the Lord’ 286 Comments
- Comedian’s New Anti-Muhammad Video Excoriates Islamic Prophet, Juxtaposes Him with Jesus: ‘Very Wrong and Twisted’ Read More
- Teacher Admits She ‘Prayed Out Loud’ During Violent Tornado: ‘I Did the Teacher Thing that We’re Probably Not Supposed to Do’ Read More
- Farrakhan Talks of ‘Satanic Jews’ and ‘Synagogue of Satan’ at Detroit Church Speech — but Wait Until You Hear Who Was in Attendance 200 Comments
- Biden Praises Jewish Leaders for Helping Change Americans’ Views on Gay Marriage Read More
- ‘Death! You F**k!’: Bat Mitzvah Chaperone Unleashes Explosive, Profanity-Laced Tirade Against Kids Over Candy-Throwing Incident Read More
- The Tense Exchange Between Rep. Trey Gowdy and the Former IRS Head You’ve Been Waiting for…and It Doesn’t Disappoint Read More
- Report: No IRS Workers Have Been Disciplined & Union Says It Hasn’t Been Contacted on Personnel Read More
- Ex-Cincinnati IRS Manager: This Was Not the Work of ‘Low-Level’ Employees Read More
- China Sets off What Could Be the World’s Longest Demolition Read More
- Here are the 5 Most Interesting Moments from Tuesday’s Hearing on the IRS Scandal 144 Comments
- The Incredible Role Facebook Played in the Aftermath of Devastating Okla. Tornado Read More
- Tech Company Demonstrates Remote Disabling of a ‘Smart Gun’ 109 Comments
- Meet the Blind Man Nicknamed ‘Midnight Gunslinger’ Who Has 80% Shot Accuracy Read More
- How a $4.5 Million Network of 181 Sirens Helped Save Lives in Oklahoma Twister Read More
- See the Record-Setting Python a Man Caught With His Bare Hands (and Guess How Much It Weighed) Read More
- Man who kidnapped 2 Iowa girls had long record
- Arias jury deadlocked but must continue
- Kerry: US, allies, ready to step up aid rebels
- Fiat Industrial aims to shift tax home to Britain
- Jurors in Jodi Arias case say they're unable to reach decision; judge sends them back
- Flooding forces evacuation of 1,300 in ND town
- Attorney: Donald Trump lied on stand
- Fed weighed slowing its pace of bond purchases