Disney Buys Lucas Films

In a crazy turn of events, Disney (DIS) buys Lucas Films from Sole Owner George Lucas for 4 Billion dollars. The deal also Includes his special-effects house, Industrial Light & Magic, Skywalker Sound and his video game company LucasArts. Disney is paying half in cash and the rest in 40 million shares of Disney Stock. George Lucas will serve as a creative consultant, but he plans to retire.

“For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next,” said George Lucas, in a statement. “It’s now time for me to pass Star Wars on to a new generation of filmmakers.”

Star Wars Episode 7 2015 Release

So what does this mean for Star Wars? “Our long term plan is to release a new Star Wars feature film every two to three years,” Disney CEO Robert Iger said. The last 3 parts of the Star Wars saga will begin with, Star Wars Episode 7, which is targeted for a 2015 release followed by Star Wars Episode 8 and Star Wars Episode 9 every two or three years.

What do you think about Disney Taking over? Is it a good thing, or a bad thing? Are you excited for Star Wars Episode 7? Leave a comment below and let me know your thoughts. Thanks for stopping by.