Tuesday, October 30, 2012
George Lucas Sells Lucasfilm Ltd. to Disney (DIS)
Walt Disney Co. (DIS) announced it will pay $4.05 billion to acquire the production company launched and operated by George Lucas - Lucasfilm Ltd., who is also its chairman.
In a statement, Lucas said, "It's now time for me to pass 'Star Wars' on to a new generation of filmmakers."
Also of importance was the announcement that the Star Wars franchise will continue, with three more episodes scheduled to be released, coming on the heels of the original series, where the third film, which was actually the sixth in the series. At this time it is being called "Episode 7." That is already set to be released sometime in 2015.
After the series finishes up with the 9th episode, Disney said there will be a new movie in the franchise released every two to three years.
This really bolsters Disney's portfolio of franchises, which already includes ESPN, Marvel and Pixar, among others.
Lucasfilm co-chairman Kathleen Kennedy will become the president of the company when it moves under the Disney umbrella, and will report to Walt Disney Studios Chairman Alan Horn.
For the new Star Wars films to be released, Lucas will continue on as a creative consultant.