Disney buys Lucasfilm, Star Wars VII announced

George LucasWalt Disney has just announced that it has purchased Star Wars pioneer George Lucas’ Lucasfilm production company for a whopping $4.05 billion in stocks and cash.

The studio has revealed the exciting news that Star Wars: Episode VII is planned for a 2015 release. Lucas founded Lucasfilm in 1971, but it wasn’t until 1977 that the first part in the filmmaker’s six-film franchise was released. In that time, Star Wars became one of the most successful film-related franchises in the world, pulling in hundreds of millions of dollars every year. It was 100 per cent owned by Lucas, who acted as Lucasfilm chairman.

But in a press statement today, Lucas explained his reasoning for giving up the keys to his sci-fi kingdom, saying that “It’s now time for me to pass Star Wars on to a new generation of filmmakers,” adding that he “thought it was important to set up the transition during my lifetime.”

Lucas appears to be very happy with this decision to sell Lucasfilm to Disney, stating that “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.” ~Brandon Bastaldo

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Comments & Discussion

  1. brad • October 30, 2012 @ 6:46 PM

    holy f*** its about time!!

  2. David • October 30, 2012 @ 7:14 PM

    As a fan of the franchise. I hope they don’t mess things up. Looking forward to the end product.

  3. C-Dub • October 30, 2012 @ 7:21 PM

    George Lucas is one of the few people that refused to sell out to Hollywood. He refused to give up rights to his movies and was the sole owner to make this decision for Lucasfilm. That’s not being a control freak, that’s just extra protection for your own ideas. Good for him pushing the studio to let him make and direct Star Wars. The rest is history. But I suppose Disney now has a major stock holder and can still help in decisions for the future of his old company.
    I say good on him for semi-retiring it seems.

  4. Nobody Important • October 31, 2012 @ 12:25 AM

    His latest work sucked something fierce. I doubt disney can do any worst.

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