The Walt Disney Company announced it has agreed to buy Lucasfilm for approximately $4.05B in cash and stock. Currently, Lucasfilm is 100 percent owned by its Chairman and Founder, George Lucas.
“For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next,” said George Lucas. “It’s now time for me to pass Star Wars on to a new generation of filmmakers."
He continued, "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. 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."
As part of the deal, Disney will gain ownership of the Star Wars franchise and its businesses in live action film production, consumer products, animation, visual effects, and audio post production. Disney will also take over Lucasfilm Ltd., LucasArts, Industrial Light & Magic, and Skywalker Sound. Kathleen Kennedy, the current Co-Chairman of Lucasfilm will become President of Lucasfilm and she'll report to Walt Disney Studios Chairman Alan Horn.
“Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas,” said Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company. “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.”
We'll just have to wait and see if this acquisition will go as well for Disney as their partnership with Marvel has gone so far. What do you think of this huge entertainment news?