Disney Buying Lucasfilm, Maker Of Star Wars

[webfact]

Disney buying Lucasfilm, maker of Star Wars

LOS ANGELES: -- Disney is buying Lucasfilm, the maker of Star Wars, for around 4 billion dollars, the companies announced Tuesday.

The deal provides a massive windfall for George Lucas, the creator of Star Wars who is the sole owner of Lucasfilm.

"For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next," Lucas, 68, said in a statement. "It’s now time for me to pass Star Wars on to a new generation of filmmakers."

"This transaction combines a world-class portfolio of content including Star Wars, one of the greatest family entertainment franchises of all time, with Disney’s unique and unparalleled creativity across multiple platforms, businesses, and markets to generate sustained growth and drive significant long-term value," said Disney CEO Robert Iger.

The Star Wars franchise is one of the most successful in Hollywood history and the seven films released since the 1977 original have grossed some 4.5 billion dollars at the global box office, behind only the Harry Potter and James Bond franchises.

The latest part of the Star Wars saga, Star Wars Episode 7, is targeted for a 2015 release.

The purchase by Disney follows its acquisition of Marvel Entertainment for 4 billion dollars in 2009 and Pixar Animation Studios for 7.6 billion dollars in 2006 as it seeks to compensate for the dwindling success of its traditional stable of family films.

-- The Nation 2012-10-31

[BookMan]

Let's hope Disney can make an instalment that brings back the magic of the first (or is it #4?) Star Wars

[Payboy]

Remake, they shall.

[GentlemanJim]

ooooh! New rides at Disney World Soon !!!

[webfact]

Disney buys 'Star Wars' maker Lucasfilm for $4 billion

2012-10-31 10:59:56 GMT+7 (ICT)

SAN FRANCISCO, CALIFORNIA (BNO NEWS) -- The Walt Disney Company has acquired Lucasfilm, the firm behind the popular 'Star Wars' franchise, in a deal worth more than $4 billion, both companies announced on late Tuesday. A new Star Wars film to be released in 2015 is part of the deal.

Disney said it agreed to acquire Lucasfilm in a stock and cash transaction with owner George Lucas, who launched the company in 1971 and released the first Star Wars film in 1977. Based on the closing price of Disney stock on Friday, the transaction value is approximately $4.05 billion. Half of the money will be paid in cash while the rest will be paid in approximately 40 million shares at closing.

"For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next," Lucas 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."

Under the deal, Disney will acquire ownership of Lucasfilm, 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. Current Lucasfilm co-chairman Kathleen Kennedy will be promoted to president.

"This transaction combines a world-class portfolio of content including Star Wars, one of the greatest family entertainment franchises of all time, with Disney's unique and unparalleled creativity across multiple platforms, businesses, and markets to generate sustained growth and drive significant long-term value," said Disney CEO Robert Iger.

Kennedy will also serve as the brand manager for Star Wars, working directly with Disney's global lines of business to build, further integrate, and maximize the value of the global franchise. She will serve as executive producer on new Star Wars feature films, with George Lucas serving as creative consultant.

Star Wars Episode 7 is targeted for release in 2015, with more feature films expected to continue the Star Wars saga in the future.

-- © BNO News All rights reserved 2012-10-31

[PoorSucker]

OK it has started....