Disney will pay George Lucas $4.05 billion, half in cash,...
Disney will pay George Lucas $4.05 billion, half in cash, the rest in 40 million shares of Disney stock, to acquire his 100 percent of Lucasfilm, the companies said Tuesday. “For the past 35 years, one of my greatest pleasures…
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has been to see Star Wars passed from one generation to the next,” Lucas said in a written 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.” Lucas thinks Disney’s “reach and experience” will give Lucasfilm the opportunity “to blaze new trails in film, television, interactive media, theme parks, live entertainment and consumer products,” he said. Under the deal, which awaits antitrust approvals, Lucasfilm Co-Chairman Kathleen Kennedy will become Lucasfilm president, reporting to Alan Horn, chairman of Disney’s studio operations, the companies said. Kennedy also will be the brand manager for Star Wars, and executive producer on new Star Wars movies, including Star Wars Episode 7, which is targeted for release in 2015, they said. Lucas himself, now 68, will be creative consultant on any new Star Wars movie projects, they said. “Lucasfilm fits perfectly with Disney’s strategic priorities,” Disney CEO Robert Iger said. “It is a sustainable source of branded, high-quality creative content with tremendous global appeal that will benefit all of Disney’s business units and is incredibly well suited for new business models, including digital platforms."