A New Hope? Disney Buys Lucasfilm For $4 Billion

The Walt Disney Company has reportedly bought Lucasfilm, the production company that brought us Star Wars and Indiana Jones, for $4.05 billion in cash and stock. The companies simultaneously announced that Star Wars Episode 7 will be released in 2015.

Kathleen Kennedy, co-chairman of Lucasfilm, will become president, reporting to Alan Horn, chairman of Walt Disney Studios. She will also become the brand manager for Star Wars, which has new episodes going into production. And under the new management, there’s reason to believe that these might actually be good.

The deal also includes Lucasfilm's multimedia and gaming divisions. As the owner of Pixar, Disney already exerts a powerful influence over the intersection between tech and entertainment, and it further blurs the line by bringing in Lucasfilm.

This acquisition follows Disney’s acquisitions of Pixar and Marvel, both of which have thrived under the banner of the iconic entertainment empire. Disney and Lucasfilm have worked together in the past on Star Wars and Indiana Jones-themed attractions at Walt Disney theme parks around the world.

“It’s now time for me to pass Star Wars on to a new generation of filmmakers,” said George Lucas, director of the timeless series and founder of Lucasfilm. “I’m confident that with Lucasfilm under the leadership of Kathleen Kennedy, and having a new home within the Disney organization, Star Wars will certainly live on and flourish for many generations to come.”

 

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