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Disney Buys LucasFilm For $4.05 Billion

George Lucas surrenders: "It's now time for me to pass Star Wars on to a new generation of filmmakers. " New live action Star Wars film coming every 2-3 years starting in 2015.

by
Dave Swindle

Bio

October 30, 2012 - 1:40 pm

via DISNEY TO ACQUIRE LUCASFILM LTD. | The Walt Disney Company.

Burbank, CA and San Francisco, CA, October 30, 2012 – Continuing its strategy of delivering exceptional creative content to audiences around the world, The Walt Disney Company (NYSE: DIS) has agreed to acquire Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas.

Under the terms of the agreement and based on the closing price of Disney stock on October 26, 2012, the transaction value is $4.05 billion, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing. The final consideration will be subject to customary post-closing balance sheet adjustments.

“Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas,” said Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company. “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.”

“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. “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.”

This is fantastic news! Disney purchasing Lucasfilm is akin to buying a drunk driver’s corvette before he smashes it up again. It looks like Mr. Lucas’s Wild Ride has now concluded.


 

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David Swindle is the associate editor of PJ Media. He writes and edits articles and blog posts on politics, news, culture, religion, and entertainment. He edits the PJ Lifestyle section and the PJ columnists. Contact him at DaveSwindlePJM @ Gmail.com and follow him on Twitter @DaveSwindle. He has worked full-time as a writer, editor, blogger, and New Media troublemaker since 2009, at PJ Media since 2011. He graduated with a degree in English (creative writing emphasis) and political science from Ball State University in 2006. Previously he's also worked as a freelance writer for The Indianapolis Star and the film critic for WTHR.com. He lives in Los Angeles with his wife and their Siberian Husky puppy Maura.
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