Star Wars and Lucasfilm Ltd. to Be Sold to Disney
10.30.12 by Mandy
Mickey Mouse is now the proud owner of his very own Death Star.
In a press release today, the Walt Disney Company announced that it will acquire Lucasfilm Ltd. Up until now, the company has been owned outright by Chairman and founder George Lucas, and now Disney has agreed to buy the company for the price of $4.05 billion dollars. The biggest and most important piece of the Lucasfilm pie is the Star Wars franchise, and George Lucas addressed the issue of handing off such an important series.
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
The current plans to continue the franchise include Star Wars Episode 7. Targeted for a 2015 release date, the movie will have Lucas serving as a creative consultant and would be produced by Lucasfilms’ current Co-Chairman, Kathleen Kennedy.
In addition to Star Wars, Disney would also acquire Lucasfilms’ operating businesses including Industrial Light & Magic and Skywalker Sound. Disney has had a long history with George Lucas having had Star Wars attractions in their parks for over two decades. Recently, Disney has had a great deal of success from their Pixar and Marvel acquisitions, and it's clear they confident in similar successes with the purchase of Lucasfilm.
Photo courtesy the Walt Disney Company