Disney Purchases Star Wars Franchise For $4.05billion

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Hollywood powerhouse Walt Disney Co agreed to buy Star Wars filmmaker George Lucas’s Lucasfilm Ltd and its “Star Wars” franchise for $4.05 billion in cash and stock, a blockbuster deal that includes the surprise promise of a new film in the series in 2015.

Although the last Star Wars movie was2005’s Revenge Of the Sith, Disney plans to release 3 more movies, with the first to come in as soon as 2015. George Lucas will remain as a creative consultant on the new films, but feels it’s time to hand over the Star Wars franchise to the new generation filmmakers.

In a statement on Tuesday, Lucas said: “It’s now time for me to pass ‘Star Wars’ on to a new generation of filmmakers.” He will become the second-largest individual holder of Disney shares, with a 2.2 percent stake.

Disney will pay about half the purchase price in cash and issue about 40 million shares at closing.

Wana

Wana

Quo non Ascendam. Writer.
E-mail: wana@360nobs.com

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