The Walt Disney Co. has just confirmed that it has agreed to buy Lucasfilm Ltd for $4.05 billion from founder George Lucas. Lucasfilm Ltd. is the production company behind “Star Wars.” Of particular interest to fans of the series, it’s also making a seventh movie in the “Star Wars” series. Disney announced the agreement to make the purchase in cash and stock on Tuesday October 30, 2012, and Disney added that “Star Wars Episode 7” is scheduled for release in 2015.
As fans of Disney and Lucasfilm, and the success of other Disney acquisitions such as Pixar, Marvel, ESPN and ABC, we can’t wait to see what they have in store for the future of “Star Wars.” Kathleen Kennedy, the current co-chairman of Lucasfilm, will be named the new president and report to Walt Disney Studios Chairman Alan Horn. George Lucas will be a creative consultant on new “Star Wars” films.
Disney has worked with George Lucas on several projects including the popular Star Tours Attraction at Disney’s Hollywood Studios. Lucas said in a statement, “It’s now time for me to pass ‘Star Wars’ on to a new generation of filmmakers.”
Watch Chairman and Chief Executive Officer of The Walt Disney Company, Bob Iger, and George Lucas, Chairman and Chief Executive Officer of Lucasfilm, discuss the announcement below.