Disney Buys Lucasfilm for $4 Billion: Will Revive Star Wars
By Dennis Kuba
October 31, 2012
October 31, 2012
- The Walt Disney Company has agreed to acquire Lucasfilm for $4.05 billion in stock and cash which the New York Times says “gives it a commanding position in the world of fantasy movies.”
- Disney is planning to revive the Star Wars franchise. It will release a seventh feature film in the series in 2015 and have new films every two or three years thereafter. Disney’s CEO Bob Iger said the company had also acquired a detailed treatment for the next three “Star Wars” films as part of the acquisition.
- While founder, George Lucas, will step down from day-to-day operation of the company, he will be a consultant on future film projects.
- Lucasfilm will continue to be run by Kathleen Kennedy who will become its president reporting to Alan Horn, Disney Studios chairman.
- The acquisition includes Lucasfilm’s live-action production business, the Industrial Light & Magic effects business, Skywalker Sound and its consumer products unit.
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