It seems the Star Wars creator and CEO of Lucasfilm, George Lucas has sold his company to Disney for $4 billion in both cash and stock.
The official press release came out yesterday and Disney offered Lucas ‘about half’ of the total amount in cash, issuing him with about 40 million shares at the close of the deal. Lucas was the complete and total owner of the Lucasfilm brand which means that the decision was his alone to make.
Kathleen Kennedy, currently the co-chairman of Lucasfilm, will move into becoming the president of Lucasfilm and will report to Alan Horn, Walt Disney Studios chairman. Kennedy has said that Star Wars Episode 7 will be targeted for release in 2015 with George Lucas serving as a creative consultant under the Disney brand.
The Lucasfilm Limited purchase by Disney includes Industrial Light & Magic, Skywalker Sound and LucasArts which all fall under the Lucasfilm Limited brand. Lucasfilm will join the ranks of Disney studios like Marvel, Touchstone and Pixar which means that, should the last few Marvel movies be anything to go by, the Star Wars franchise will be in extremely good hands.
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