Disney Acquires Lucasfilm, Star Wars Franchise: More Star Wars Films Coming

Disney Acquires Lucasfilm, Star Wars Franchise: More Star Wars Films Coming

In the most unexpected yet earth-shattering news in recent film and video memory, Disney has agreed to purchase Lucasfilm for a reported $4.05 billion. Along with that purchase, Disney has stated that it will continue to produce original Star Wars films and related material. Since I know that most all of our readers grew up watching Star Wars and at some point in their life have pretended to wield a lightsaber, this has got to be the greatest Star Wars news in some time.

Now, I know that there will be many who are getting out their torches and pitchforks and explaining how horrible that this news is and that you just can't mess with greatness (pointing to the prequels, etc etc), I have full confidence that Disney will create something incredible with their know-how. Think about what Disney has done lately - all of their recently released films have been nothing short of fantastic. Something tells me that they aren't going to just roll over and pump out more Jar Jar. I'm confident that they'll do it right, and without Lucas' headstrong and stubborn mind at the helm, great things will happen. Just because it's Disney doesn't mean we're going to be watching an animated version of Star Wars with Jasmine and Jafar on a magic carpet sailing high over the deserts of Tatooine, and we know with Disney's capital and creative minds behind the project, something as cringe-worthy as Episode I just won't happen again. Lucas is only involved as a 'creative consultant,' not as a director, producer, or anything else. To me this sounds like the answered prayers of most Star Wars fans. It's as if thousands of voices had been crying out for decades and were suddenly silenced, if you catch my drift.

In addition, we're sure that these new films will employ the absolute cutting edge of filmmaking and photography technology to help them come to life. We're very much looking forward to seeing how Disney leverages this to make these a truly incredible cinematic experience, and also seeing what new technologies are created as a result of these films. I have a very strong feeling that new doors in filmmaking will be opened very shortly as a result of the infusion of money that this franchise will bring to the filmmaking world.

I promise you that the seventh film, which is slated for release in 2015, will be one hell of a lot better than Episode I.

The press release from Lucasfilm and Disney can be read here:

STAR WARS: EPISODE 7 feature film targeted for release in 2015.

Burbank, CA and San Francisco, CA, October 30, 2012 – Continuing its strategy of delivering exceptional creative content to audiences around the world, The Walt Disney Company (NYSE: DIS) has agreed to acquire Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas.

Under the terms of the agreement and based on the closing price of Disney stock on October 26, 2012, the transaction value is $4.05 billion, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing. The final consideration will be subject to customary post-closing balance sheet adjustments.

"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."

"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, Chairman and Chief Executive Officer of Lucasfilm. "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. 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."

Under the deal, Disney will acquire ownership of Lucasfilm, a leader in entertainment, innovation and technology, including its massively popular and "evergreen" Star Wars franchise and its operating businesses in live action film production, consumer products, animation, visual effects, and audio post production. Disney will also acquire the substantial portfolio of cutting-edge entertainment technologies that have kept audiences enthralled for many years. Lucasfilm, headquartered in San Francisco, operates under the names Lucasfilm Ltd., LucasArts, Industrial Light & Magic, and Skywalker Sound, and the present intent is for Lucasfilm employees to remain in their current locations.

Kathleen Kennedy, current Co-Chairman of Lucasfilm, will become President of Lucasfilm, reporting to Walt Disney Studios Chairman Alan Horn. Additionally she will serve as the brand manager for Star Wars, working directly with Disney's global lines of business to build, further integrate, and maximize the value of this global franchise. Ms. Kennedy will serve as executive producer on new Star Wars feature films, with George Lucas serving as creative consultant. Star Wars Episode 7 is targeted for release in 2015, with more feature films expected to continue the Star Wars saga and grow the franchise well into the future.

The acquisition combines two highly compatible family entertainment brands, and strengthens the long-standing beneficial relationship between them that already includes successful integration of Star Wars content into Disney theme parks in Anaheim, Orlando, Paris and Tokyo.

Driven by a tremendously talented creative team, Lucasfilm's legendary Star Wars franchise has flourished for more than 35 years, and offers a virtually limitless universe of characters and stories to drive continued feature film releases and franchise growth over the long term. Star Wars resonates with consumers around the world and creates extensive opportunities for Disney to deliver the content across its diverse portfolio of businesses including movies, television, consumer products, games and theme parks. Star Wars feature films have earned a total of $4.4 billion in global box to date, and continued global demand has made Star Wars one of the world's top product brands, and Lucasfilm a leading product licensor in the United States in 2011. The franchise provides a sustainable source of high quality, branded content with global appeal and is well suited for new business models including digital platforms, putting the acquisition in strong alignment with Disney's strategic priorities for continued long-term growth.

The Lucasfilm acquisition follows Disney's very successful acquisitions of Pixar and Marvel, which demonstrated the company's unique ability to fully develop and expand the financial potential of high quality creative content with compelling characters and storytelling through the application of innovative technology and multiplatform distribution on a truly global basis to create maximum value. Adding Lucasfilm to Disney's portfolio of world class brands significantly enhances the company's ability to serve consumers with a broad variety of the world's highest-quality content and to create additional long-term value for our shareholders.

The Boards of Directors of Disney and Lucasfilm have approved the transaction, which is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, certain non-United States merger control regulations, and other customary closing conditions. The agreement has been approved by the sole shareholder of Lucasfilm.

To see the full press release, including additional commentary, head over to Disney's page regarding the purchase and the future of the franchise.

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Michael Kelley (mpkelley.com) is a Los Angeles-based architectural and fine art photographer with a background in digital art and sculpture. Using his backgrounds in the arts, he creates images that are surreal and otherworldly, yet lifelike and believable. A frequent traveler, Michael's personal work focuses on the built environment of unique

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24 Comments

"NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!"

 Meesa can't wait! Okey-tay?!

Just look at what Disney did with the Marvel franchise....I rate they'll be better than the last 3....

after Star Wars 1,2,3,4,5 and 6 they can't get any worse so bring on 7

how can anything get worse than 4,5 and 6. it was 1,2,3 that was bad not the original trilogy.

I enjoy the films - original trilogy and the later trilogy - but they're still very bad films - no denying that. Let's just hope that number 7 gets a set design make-over. Won't be able to watch another Star Wars film with 1970's sci-fi aesthetics

yes because you never was in 1970 and try make some sci-fi movie and either disney and that's what Lucas could make....but different time so sometimes you should know when its over and dont forced it...

There's so much Lucas-recognized-and-approved material in the Star Wars Expanded Universe that episode 7 is already written, just not made into a movie yet. So don't get your knickers bunched up about this "new and different" Star Wars.

Are you sure? when someone wanted to make a game it has to fit in Lucas timeline in order to get rights ....but...ops Lucas its no more own the rights....that mean own rights own rules.

Disney has done wonders with the Marvel Franchise, I think they have a good recipe for turning around stagnant properties.  Let's hope for the best!

Stagnant doesn't equal BAD. there is a reason no one makes remake of "The Shinning", "Apocalypse Now", "Clockwork Orange".... They are masterpiece that need to be left alone.

Look what appended when they tried to spin off "2001: Space Oddessey". 

Movies are work of art. Once the vision is done and on film, the industry should have the decency of leaving it alone.

I think they should explore the earlier time line , cause Bioware did a great job with the shorts for the old republic and I believe they could flush out a full story with great characters.

I am not a Star Wars fan-boy, but I think this is going to be awesome!

you are really not Star Wars fan

So the argument in the post is that Disney will bring awesome tech to Star Wars and that will fix it??? What ruined the prequels was a bad story, mediocre acting and horrible directing. The tech was actually kinda awesome. If they want to fix this they need a great story, great actors and a director who knows how to direct actors. Lucas' problem is that he doesn't know how to direct actors. I submit this as evidence that Lucas cannot direct good actors - http://www.youtube.com/watch?v=7SqTR0DorSw

Also, how is this related to photography, BTS, or movie making?

Good job. I clicked anyway...

"movie making"

A WEEKLY STAR WARS SERIES WOULD BE AWESOME! ( pass it on) :-) HEHEHE

there is...  :)   You may think it's just for kids, but trust me, start watching our show "The Clone Wars".    We are pushing very hard to make it the best animated series on television!  

what do you think we are? ... and I thinks like for me as a very big fan of SW series its kind of confusing for me it seem like if this really happend the between 2 and 3 than the 3 and whole story would be totally different though I love it because its star wars and has the feeling of SW 

eugh. no thanks.

Meesa remainin highly skeptical. 

I'm a huge star wars nerd! 
and i agree with andrew! there is so much content (books, comics, games even) that take place after the original trilogy but not nearly as much prior to the new trilogy.. movies that take place during the Old Republic games era would be freaking awesome! cause the games alone are mind blowing and leave you with so many questions that movies could help fill in!
i personally won't be as excited to see a movie that is post Imperial but i will still definitely go see them!

star trek is much better )