The Walt Disney Company recently announced that it will pay just north of $4 billion for George Lucas’ production company, Lucasfilm, Ltd. Disney, whose recent acquisitions include such entertainment powerhouses as comic book giant Marvel Entertainment and the computer animation company Pixar, revealed that it will continue to produce more films in the “Star Wars’ saga. Lucas, who was the sole owner of the company baring his namesake, will become the second largest non-institutional shareholder of Disney stock when he receives 40 million shares as part of the deal.
Disney Chairman, Bob Iger, praised the deal that will require approval under the Hart-Scott-Rodino Antitrust Improvements Act and various non-U.S. merger control regulations. The merger will allow Disney to acquire the San Francisco based Lucasfilm and its operating businesses in live action film production, consumer products, animation, visual effects, and audio post production.
The seventh ‘Star Wars’ movie is slated to be released in 2015 and Disney plans to release a new movie in the science fiction installment every two or three years, with Lucas remaining a creative consultant. This deal provides potential for Disney to expand further not only in the medium of film, but also within its character driven theme parks. Indeed, Iger has indicated his intention to incorporate a Star Wars presence in the Disney theme parks, including the possibility of creating entirely new parks based on the film series.
Disney to buy Lucasfilm for $4.05 billion, make new series of ‘Star Wars’ movies