The Disney Corporation has agreed to buy the Star Wars production company 'Lucasfilm' in a deal worth more than $4 dollars.
The Disney Corporation has agreed to buy the Star Wars production company 'Lucasfilm' in a deal worth more than $4 billion.
As part of the deal, a new series of Star Wars films will be made, with the first new instalment - Episode Seven - to be released in 2015.
The deal unites the Northern California film studio that brought special effects into the digital era with a Hollywood powerhouse.
Disney plans to release at least three more films in the Star Wars sci-fi saga that ranks among the biggest movie franchises of all time, Chief Executive Bob Iger told analysts.
Although Lucas has in the past denied plans for any new "Star Wars" movies, he said in a video interview released yesterday on Starwars.com that he had already created story treatments outlining three more films as well as many other Star Wars story lines.
Lucas will remain a creative consultant on the new films, although in the video interview he cast the sale as part of a long-held personal desire to exit the mainstream film industry.
In a statement last night Lucas said: "It's now time for me to pass 'Star Wars' on to a new generation of filmmakers." He will become the second-biggest individual holder of Disney shares, with a 2.2% stake.
Disney will pay about half the purchase price in cash and issue about 40 million shares at closing.
"This is one of the greatest entertainment properties of all time," Iger said.
As part of the deal, a new series of Star Wars films will be made, with the first new instalment - Episode Seven - to be released in 2015.
The deal unites the Northern California film studio that brought special effects into the digital era with a Hollywood powerhouse.
Disney plans to release at least three more films in the Star Wars sci-fi saga that ranks among the biggest movie franchises of all time, Chief Executive Bob Iger told analysts.
Although Lucas has in the past denied plans for any new "Star Wars" movies, he said in a video interview released yesterday on Starwars.com that he had already created story treatments outlining three more films as well as many other Star Wars story lines.
Lucas will remain a creative consultant on the new films, although in the video interview he cast the sale as part of a long-held personal desire to exit the mainstream film industry.
In a statement last night Lucas said: "It's now time for me to pass 'Star Wars' on to a new generation of filmmakers." He will become the second-biggest individual holder of Disney shares, with a 2.2% stake.
Disney will pay about half the purchase price in cash and issue about 40 million shares at closing.
"This is one of the greatest entertainment properties of all time," Iger said.
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