Is Disney an all devouring monster? Possibly. You may remember the company’s acquisition of the major comic company Marvel a few years back. Well they are at it again; this time Disney bought up Lucasfilm LTD, George Lucas’s parent company which is comprised of all of its subsidiaries such as Lucasfilms, LucasArts, Industrial Light & Magic, Skywalker Sound, and including the entirety of the Star Wars franchise, Indiana Jones franchise, LucasArts video games, and all other franchises and products owned by Lucasfilm LTD.
The terms of the deal had the purchase George Lucas’s company priced at over $4 billion. After the acquisition, Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company said, “Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas.” He also made statements to suggest that Disney will be utilizing the Star Wars franchise, as well as Lucasfilm’s other creations in the future:
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.
George Lucas stated that he believed it was “time for me to pass Star Wars on to a new generation of filmmakers,” and that “Star Wars will certainly live on and flourish for many generations to come” in the hands of Disney.
During Disney’s acquisition, it was also announced that Star Wars: Episode 7 is in development and is shooting for a release in 2015. Not only that, but Episode 8 and Episode 9 will follow in the years to come, as well as the possibility of future Star Wars feature films. Kathleen Kennedy, current Co-Chairman of Lucasfilm, will take over as President of Lucasfilm and brand manager for the Star Wars franchise. She will also serve as executive producer on all future Star Wars feature films. George Lucas will now serve as the creative consultant.
Source – PR