Disney buys Lucasfilm for $4.05 billion, Star Wars Episode 7 movie eyed for 2015 release (Video)

By on Oct 31, 2012 in Business, Entertainment, Movies Comments

The Walt Disney Company announced on Tuesday, October 30, 2012 that it has agreed to buy Lucasfilm Ltd, which is 100% owned by George Lucas, the company’s founder and chairman. A video of George Lucas and Lucasfilm co-Chairman Kathleen Kennedy talking about the future of Star Wars movies is available below.

George Lucas Robert A Iger

Robert A. Iger (left) and George Lucas
Image Credit: TheWaltDisneyCompany.com

According to a press release at TheWaltDisneyCompany.com that day, the Disney-Lucasfilm business deal was made under the terms of the agreement and based on the closing price of Disney stock last Friday, October 26; and was valued at $4.05 billion. Disney is set to pay cash for the half of the selling price.

“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.” George Lucas was quoted in the report.

“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. 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.” Lucas added.

Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas.” The Walt Disney Company Chairman and CEO Robert A. Iger was quoted in the report, with Kathleen Kennedy to become the president of Lucasfilm and will be reporting to Walt Disney Studios Chairman Alan Horn.

“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.” Iger added.

George Lucas and Kathleen Kennedy talk about the future of Star Wars movies
Video Credit: Star Wars/YouTube

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