Disney Buys LucasFilms... gets rights to Star Wars

[Steve-O]

Global leader in high-quality family entertainment agrees to acquire world-renowned Lucasfilm Ltd, including legendary STAR WARS franchise.

Acquisition continues Disney's strategic focus on creating and monetizing the world's best branded content, innovative technology and global growth to drive long-term shareholder value.

Lucasfilm to join company's global portfolio of world class brands including Disney, ESPN, Pixar, Marvel and ABC.

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.

Note: Additional information and comments from Robert A. Iger, chairman and CEO, The Walt Disney Company, and Jay Rasulo, senior executive vice president and CFO, The Walt Disney Company, regarding Disney's acquisition of Lucasfilm, are attached.

Source: Disney Press Release

I gotr one thing to say to this

 

[The Master]

In short... Disney owns the right to Star Wars?

Idk about you, but I for one think that this is pretty cool.

Whether Episode 7 BLOWS or not, I'm excited that there is going to be another film

But the biggest question is: Will Star Wars The Clone Wars animated series be playing on Disney Channel now instead of Cartoon Network?

 

[Linnaete]

lulz

It was probably bound to happen. It is such a cash grab opportunity when the prequel trilogy did so well despite the films' very questionable qualities (i.e. they were all shit: Phantom Menace is dull, banal and totally stupid with kid Anakin saving the day, Attack of the Clones with its traumatically horrific attempts at writing a blooming relationship between two vapid people who are in love for no adequate reason and Revenge of the Sith for its entire plot relying on the fact that the Jedi - and Anakin - are the most unfathomably stupid, incompetent people ever) that I'm surprised that it hasn't happened/won't happen until possibly 2015.

But still, what happened, George? I thought you said there wouldn't be any more. I thought the whole story was finished. Bad guys have lost and are dead and the heroes have saved the galaxy. Oh, that's right. Money. Or are we thinking of going back in time to the Old Republic to avoid making all the expanded universe stuff that chronologically take place after Episode VI potentially non-canonical?

Although I am surprised that there are no plans to remake Episodes IV, V and VI. I'd have thought they would LOVE to refilm all those iconic moments with swathes of flashy CGI that densely clog up the entire screen with explosions or countless little things happening at the same time. I mean, look at all the additional things they like to add in to the latest original trilogy boxset releases. What, too iconic to recast everyone? Content already with the sales from the umpteenth boxset release of the trilogy. Ah.

EDIT:

Lucas: You are so... beautiful.
Money: It's only because I'm so in love.
Lucas: No, it's because I'm so in love with you.
Money: So love has blinded you?
Lucas: [laughs] Well, that's not exactly what I meant.
Money: But it's probably true.

 

[AddleBoy]

My biggest question is what happens to the extended universe now that there is officially going to be an Episode 7? There are dozens of books in the expanded universe that take place after Episode 6. What happens to them? When will the new movies take place? Is there a chance of getting Ford, Hamill, and Fisher in these movies?

What other types of projects will start up because of this?

 

[The Witch]

I just find it funny, Lucus always said no about this sort of thing, but then he goes and does this. It's like, what the hell man? Ugh, I'm not sure how to feel about this

 

[Steve-O]

I'm not sure how I feel either, I don't see the need of the 7th film.... but I been reading up that there novels that follow the story after episode 6, so maybe they will base it on the novel from the expanded universe as they call it

but hey guys... darth vader or yoga in kingdom hearts anybody

 

[Squid]

Haha I don't really care, eps 1 - 3 were shite anyway so this new one will either be an improvement of those or probably equally as crap

 

[Shaissa]

but hey guys... darth vader or yoga in kingdom hearts anybody

Hell no

But Episode 7 how can Disney screw this up?

And my friend loves the novels after the books, so I wonder what he is going think about an episode 7...

Well Disney got it for $4 Billion... Is Lucas going be involved in anyway or is he officially out of it now is my real question.

 

[The Witch]

Haha I don't really care, eps 1 - 3 were shite anyway so this new one will either be an improvement of those or probably equally as crap

you mean the ones with ewan mcgregor or however you spell it? cuz if you mean the original i will be shocked with you

but hey guys... darth vader or yoga in kingdom hearts anybody

 

[Squid]

you mean the ones with ewan mcgregor or however you spell it? cuz if you mean the original i will be shocked with you

Hahaha I mean the new ones, episodes 1 - 3 the old ones were episodes 4 - 6 right? or am I getting confused

 

[The Master]

Star Wars + Kingdom Hearts = THAT much more epic

 

[Rapture]

Disney has bought up a lot of stuff over the years...I remember when Jim Henson's the Muppets weren't doing so well after he passed away and Disney ended up buying them up. Thing is, SINCE then we haven't heard much from the Muppets...I know they weren't always the most popular as far as kids shows go, but when I was younger they were. I know they made that new movie not too long ago but other than that people hardly know they exist When I went down to Disney they had both attractions for Star Wars and The Muppets at Hollywood Studios...and I knew they had the rights to the Muppets, but the Star Wars thing had me going Whut ...but maybe this is why

I personally don't have a problem with it. I don't think there's much out there that Disney has laid hands on and has ended up screwing up. My only fear is that they'll buy it up just to say they own it and they won't end up doing anything with it over the years.

 

[Lirael]

I'm with Lilith - I'm not too worried about this. Disney have created excellent movies for a variety of audiences over the years. I suppose Star Wars and Disney sounds like an odd mix when you associate Disney with animated movies like The Lion King, Beauty and the Beast and Mulan - all of which were awesome, btw - but they produced Pirates of the Caribbean too, which is reasonably mature. I would argue PotC is better than the recent Star Wars movies.

I haven't seen many terrible movies come out from the Disney studios. Some are far too childish for my tastes, but they're suited to the target audience, so I can't fault them for that.

Furthermore, their instrumental music is absolutely awesome. Listen to this, this, this and this. Some may want John Williams to compose the music for SW, but these pieces give me the chills!

 

[Starships]

This sounds like a awesome idea. I mean look at the recent Marvel movie that was a box-office hit and smash if you include the Hulk lol haaha punny.

​

Lucas added in characters like JarJar and destoryed his own creation. Now, hopefully judging how what they did to Marvel this will be a good thing and improvement to the Star Wars story and legend.

 

[Jack's Smirking Revenge]

there has been talks of a further trilogy ever since episode 3 was released, it just never went any further than rumours but there may or may not have been a script kicking around for some years now. this is a very clever move from george lucas. he said about a year ago that he was done with big money blockbusters, and wanted to go back to his indie roots. no one believed him, given his track record with getting as much money as possible out of the star wars franchise. this will allow him to get both.

 

[Big Casino]

For me star wars was episode 4 - 6 and thats pretty much it. One of the best 3 films of cinema. Episode 3 was alright but 1 and 2 hahah

Sorry but even Liam Neeson and Ewan MacGregor didnt make ep1 a good film

Jar jar

 

[Exoskeleton]

I really don't mind. I thoroughly enjoyed all of the Star Wars episodes as I've never really taken the series too seriously. I think it's a good descision, besides Disney has a habbit of buying up things left and right and their movies aren't so terrible. Sure episodes I-III were bland but in my opinion I think it was just terrible acting, like I hated the actors for II and III as they talked like hollow zombies and looked like they were forcing their "emotions" a bit. I think it'd be interesting to see what happens after episode VI though. There's no reason against it. When you have a large universe like Star Wars why not expand upon/explore it a bit? I highly doubt Darth Vader would be the only big bad to cause trouble in the galaxy.

As for Kingdom Hearts fuck that shit that series needs to die asap.

 

[Shaissa]

This sounds like a awesome idea. I mean look at the recent Marvel movie that was a box-office hit and smash if you include the Hulk lol haaha punny.

​

Lucas added in characters like JarJar and destoryed his own creation. Now, hopefully judging how what they did to Marvel this will be a good thing and improvement to the Star Wars story and legend.

Actually most of the Marvel movies were in the making before Disney bought it, in fact they had to buy the rights to Iron Man, Iron Man 2, Avengers, Captain America, Thor, and I thinK Iron Man 3 since that was already in the process of being made


I still don''t know how I feel about an episode 7, I didn't like 1-3, or most of anything that had to do with the clone wars... minus the battlefront video games. And for some reason I liked Pod Racing on the N64...

 

[Mr. Zombie]

The initiative to create the new trilogy was probably from Disney. Lucas loves money, so it doesn't matter if Disney disturbs the Force as long as Lucas gets the ca$h.

Personally I think the saga is already complete, and trying to prolong or make it better than it is will ruin it. It's perfect the way it is. I mean, buying Pixar or Marvel is one thing, but buying Star Wars is something dangerous, unless they can achieve the impossible (which they don't).

 

[Linnaete]

There is a chance of a semi-decent trilogy here. George Lucas is handing this to some new people to work on, meaning that he won't need to do a thing and still get shitloads of money. And as he won't be involved in the production, this hopefully means a plot that is actually well-fleshed out and makes some coherent sense, dialogue that isn't catastrophically laughable and a filming technique that uses more actual sets and less of the green screens with the sterility coming from CGI-only, cartoony backdrops. And Empire was largely filmed by staff that were able to do their own things instead of being constantly dictated at unchallenged and reined in by George. So yeah, there is potential for something better than Episodes I-III here. Or at least, Disney can't do any worse.