Disney Purchases Lucasfilms For Close To $4.1 Billion

October 26, 2012, saw a massive shift in the film business, as Lucasfilms, the studio responsible for spawning the cultural phenomena, Star Wars, was bought out by Disney. The deal is valued close to 4.1 billion dollars, and also includes rights to the special effects house Light & Magic, Skywalker Sound, and video game developer LucasArts. Speculation as to Disney’s approach to the juggernaut franchise has been widespread and varying, though Disney has officially announced that Star Wars: Episode VII is slated for sometime in 2015. Beyond the release of Episode VII, Disney has reported that the company intends to release further movies every two years. The company is also investigating potential for the series on television. Lucasfilm spokeswoman Lynne Hale also stated that the current intent of the companies involved in the deal is for everyone at Lucas’ companies to stay where they currently are. It is currently unknown what Disney has planned for the other companies acquired in the business deal. In response to the outcry of millions of fans, which ranges from overwhelmingly positive to exceptionally negative, George Lucas stated “For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next. It’s now time for me to pass Star Wars on to a new generation of filmmakers.” Lucas will remain a creative consultant to Disney in regards to the franchise, though will otherwise be retiring.

Source: Jake Depew, Jefferson County Staff Writer