LICENSING NEWS

Disney to buy Lucasfilm for $4.05 billion

Published on: 31st October 2012

Disney has agreed to pay $4.05 billion to buy Lucasfilm, the owner of the Star Wars properties; Disney will also purchase LucasArts, the video game development arm of Lucasfilm.

George Lucas, the chairman and CEO of Lucasfilm, said: “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. 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 organisation, 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.”

Robert Iger, the chairman and CEO of The Walt Disney Company, said in a statement: “Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas. 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.”

Along with the announcement of the deal came the announcement of Star Wars: Episode 7, slated for a 2015 release.

In a similar deal, Disney purchased Marvel three years ago for $4 billion.

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