Star Wars Lives Anew!!

iVillage Member
Registered: 08-18-2012
Star Wars Lives Anew!!
Fri, 11-02-2012 - 12:12am

Like some folks I know, like this contributor, George Lucas has reached the age when the pressure of work just isn't satisfying or desireable. Today's tight budgets and studio release timelines just aren't a motivator since George is financially secure. So for today's generation George is:

Disney to buy Lucasfilm.
The reported deal is worth $4.05 billion in stock and cash, which is good news for George Lucas, who is the sole owner of the studio.

It was also announced that Star Wars: Episode 7 would be targeted for release in 2015. That will be followed by Episodes 8 and 9.

"Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas," said Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company.

"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."

The $4.05 billion valuation is based on the terms of the agreement, and the closing price of Disney stock on Friday, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing.

"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, Chairman and Chief Executive Officer of Lucasfilm.

"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 organization, 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."
Retirement at 68 isn't so bad George call if you need help LOL, I retired at 50 6-12-1996. Ed    


iVillage Member
Registered: 11-14-2008
Fri, 11-02-2012 - 9:59am

I like that he seems to be looking toward the future, trying to see that the company he built is in hands he feels confident in. I also read this morning that he's planning on donating the bulk of the sales to charity that primarily focuses on educational issues.