Disney announced Tuesday it has bought Lucasfilm Ltd., the production company behind the blockbuster "Star Wars" franchise, for $4.05 billion. Disney also announced that is already working on Star Wars 7 and will be in theaters in 2015.
During a conference call announcing the merger, Disney executives said they wanted to release an "Episode VII" and "Episode IX" as well. The films would ideally reach theaters every two or three years. The last "Star Wars" picture was "Revenge of the Sith" in 2005, and Lucas has in past denied any plans for more.
The payment will be made with both cash and stock -- around 40 million shares.
"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, in a statement.
"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."
Disney's acquired of Marvel Entertainment in 2009 and Pixar Animation Studios in 2006, two powerful entertainment brands. The Disney board has approved the Lucasfilm acquisition, but it is subject to antitrust scrutiny by the U.S. government.
