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thorgot

Disney acquires LucasFilms for $4b, Star Wars Episode 7 planned

By thorgot, in Serious Discussion

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thorgot    2420

thorgot
Posted

http://www.deadline....r-wars-creator/

BREAKING…. Disney has just confirmed that it has agreed to acquire George Lucas‘ Lucasfilm Ltd, and that includes rights to the Star Wars franchise that will now continue on. The companies have targeted a 2015 release for Star Wars: Episode 7 and plan future movies based on the movies’ most iconic franchises. The stock and cash transaction is worth an estimated $4.05 billion, and the companies have scheduled a conference call in a half-hour to discuss the deal, which was approved by the Disney board and Lucas, the sole Lucasfilm shareholder.

As for the new Star Wars installment, the companies only would say that Lucasfilm’s Kathleen Kennedy would be executive producer on Episode 7 and any more Star Wars movies, and Lucas would serve as creative consultant. There was no indication about where the story would pick up, though technically in the franchise’s chronology it would follow Star Wars: Episode 6 — Return Of The Jedi, the third film in the initial trilogy that came out in 1983.

As part of the deal, Kennedy will become president of Lucasfilm, reporting to Walt Disney Studios chairman Alan Horn. Additionally she will serve as the brand manager for Star Wars, whose feature films have earned a total of $4.4 billion in global box to date. And that doesn’t even take into account the franchise’s massive merchandising clout. Kennedy was made Lucasfilm co-chairman June 1 as heir apparent to Lucas.

“Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas,” said Disney chairman and CEO Bob Iger in a release announcing the deal. “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.”

Disney is paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing based on Disney’s stock price on October 26. Lucasfilm is 100% owned by Lucasfilm chairman and founder Lucas.

“For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next,” said Lucas. “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.”

Lucasfilm’s businesses include live-action film production, consumer products, animation, visual effects, and audio postproduction. Disney also acquires the technologies from the San Francisco-based company, which operates under the names Lucasfilm Ltd., LucasArts, Industrial Light + Magic, and Skywalker Sound.

This means that any future Star Wars project will only have Lucas as at most a creative consultant, and that Disney now owns Industrial Light and Magic. And Episode 7, of course.

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Toxygen    1885

Toxygen
Posted

Do you know how many strippers you could have per night for the rest of your life if you got 4 billion dollars?

Good use of 4 billion dollars, totally. I like your life goals.

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Ryziou    538

Ryziou
Posted

Do you know how many strippers you could have per night for the rest of your life if you got 4 billion dollars?

Good use of 4 billion dollars, totally. I like your life goals.

xD, but 4 billion great deal :o

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Necrophenia    435

Necrophenia
Posted

So if Disney need to buy out Lucas films to make more star wars, why was the animated film made. Personally I think that they could come up with a new idea for a lot less

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Windmill    1521

Windmill
Posted (edited)

^ You realize Star Wars has been a steady cash flow torrent since 1977. The whole franchise is worth over 30 billion. They're not just buying Lucas to make films but to exploit every aspect of the fanchise. Star Wars toys, star wars rides, star wars apparel, etc.

Edited by Windmill

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Necrophenia    435

Necrophenia
Posted

That's true but Disney went into this to try and start up the franchise again with new films, as even though its a steady cash flow its probably not going to cover the 4 billion cost otherwise Lucas would of never sold out. It just seems to me that film makers would rather squeeze every last penny out of an idea these days rather than move onto a new idea. But maybe there just going to use the setting and start a brand new story line, its early days and anything could happen.

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