Disney has shelled out more than $4 billion dollars to acquire George Lucas’ Lucasfilm LTD, in a deal that was announced on Tuesday.
As part of the deal, Disney will release a new ‘Star Wars’ film, “Episode 7” in 2015, and the eighth and ninth editions thereafter.
Also included in the deal, Disney will get Lucasfilm’s film production, consumer products, animation, visual effects and audio post-production divisions, as well as a number of revolutionary entertainment technologies.
Half of the sum will be paid in cash, and the other half is to be paid in stock, based on Disney’s stock price at the close of the market on Tuesday.
George Lucas founded the company in 1971, and in addition to Star Wars, has produced many other high profile projects, including “American Grafitti,” and the “Indiana Jones” franchise.
In an official statement from Disney, Chairman and CEO Bob Iger said,
“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.”
Lucas will stay on board as an advisor.