Disney Buys LucasFilm for $4 Billion and Will Make New 'Star Wars' Movies
Sending a tremor of panic down the spines of hard core Star Wars fans, Disney announced a cash and stock acquisition of LucasFilm for $4.05 billion on Tuesday and announced the planned release of another Star Wars movie in 2015.
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The acquisition entails Disney paying about half of the money in cash and the rest in 40 million shares. “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," said Bob Iger, the CEO of Disney, in a press release.
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According to the Associated Press, Kathleen Kennedy, the current co-chairman of LucasFilms will take on a new role as the company's president reporting directly to Disney chairman Alan Horn. “It’s now time for me to pass Star Wars on to a new generation of filmmakers,” Lucas said in a statement. The news causes an instantaneous outcry from Star Wars fans who for years have seen their original beloved first trilogy turned into a barely recognized franchise. In a word: "Nooooo!"
