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Title: Disney Buys Lucasfilm for $4B, Targets Star Wars: Episode 7 for 2015
Source:
wired
URL Source: http://www.wired.com/underwire/2012/10/disney-buys-lucasfilm/
Published: Oct 30, 2012
Author: Angela WatercutterEmail
Post Date: 2012-10-30 18:02:12 by A K A Stone
Keywords: None
Views: 1926
Comments: 2
In a move sure to shock fans of the Mouse House and George Lucas, the Walt Disney Company said Tuesday it has agreed to acquire Lucasfilm for $4.05 billion in cash and stock. The company also announced that it is prepping Star Wars: Episode 7 for release in 2015. “For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next,” Lucas, the sole shareholder of Lucasfilm, said in a press release announcing the acquisition. “It’s now time for me to pass Star Wars on to a new generation of filmmakers.” With the acquisition, Disney adds one of the world’s most enduring — and most profitable — sci-fi franchises to its ever-expanding stable. Disney, which has grown from humble animation company to massive media brand, successfully roped in Pixar in 2006 and bought Marvel Entertainment in 2009 (also for a $4 billion price tag). Buying Lucasfilm, Iger said, was in line with the Marvel acquisition: The move essentially means Disney has cornered the market on superhero and sci-fi/fantasy films. In a conference call with investors, Disney chairman Robert Iger called Lucas a “true visionary” and applauded him for building a “company at the intersection of entertainment and technology.” As part of the deal, Disney will also take control of Industrial Light & Magic and Skywalker Sound. But the most lucrative part of the deal has to be the Star Wars brand, and to that end Disney announced it would be releasing a new film from the franchise in 2015, with more to follow. “We believe we can do great things with these amazing assets,” Iger said. Under the agreement, Kathleen Kennedy, Steven Spielberg’s producing partner who was named co-chair of Lucasfilm in June, will become president of the company within Disney. Lucas has been discussing retirement in recent months, particularly when Kennedy’s position was announced, and even though Iger noted that Lucas will stay on as an adviser for the new Star Wars trilogy, he is moving forward toward retirement. “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 said in a statement. The boards of both Disney and Lucasfilm have approved the acquisition, but it is still subject to clearance under U.S. and international business regulations. Blowback: What Do You Think Will Happen Once Disney Owns Lucasfilm? Do you have high hopes for Star Wars: Episode 7? Let us know your hopes and fears in the comments below.
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#2. To: A K A Stone (#0)
Star Wars: Episode 7 for release in 2015. "Spaceball II: The Search for More Money!"
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Top • Page Up • Full Thread • Page Down • Bottom/LatestBlowback: What Do You Think Will Happen Once Disney Owns Lucasfilm?
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