Disney has just made a massive purchase, paying $4.05 billion to buy Lucasfilm Ltd., the production company behind Star Wars, from its founder/director George Lucas.
Walt Disney Co. announced the blockbuster deal on Tuesday (October 3), which includes cash and stock. Details, however, were unknown at press time.
The deal includes Lucasfilm’s prized high-tech production companies, Industrial Light & Magic and Skywalker Sound, as well as rights to the “Indiana Jones” franchise.
Disney CEO Bob Iger said, in a statement, that the company will help preserve and grow the Star Wars franchise.
Reports say a seventh movie in the Star Wars series called “Episode 7,” is currently in the works and set for release in 2015. After, there’s plans to follow with Episodes 8 and 9, and then one new movie every two or three years.
“The last ‘Star Wars’ movie release was 2005’s ‘Revenge of the Sith’ — and we believe there’s substantial pent-up demand,” Iger said.
Further details about the upcoming film were unknown at press time.
Lucas will serve as a creative consultant on new Star Wars films into the future. Why did he sell it? He wants to pass it on to the next generation.
“It’s now time for me to pass Star Wars on to a new generation of filmmakers,” he said.
Lucasfilm is now under the Disney banner with other major brands such as Pixar, Marvel, ESPN and ABC. The company purchased Pixar for $7.4 billion in 2006 and the $4.2 billion acquisition of comic book giant Marvel in 2009.