Disney pays $4.05 billion for Lucasfilm; announces Star Wars 7 in 2015

Disney pays $4.05 billion for Lucasfilm; announces Star Wars 7 in 2015

Credit: Getty Images

LONDON, ENGLAND - OCTOBER 27: An original Darth Vader costume from the Star Wars films on display in Christie's auction house on October 27, 2010 in London, England. The rare collectors piece is expected to realise between GBP160,000 and GBP230,000. (Photo by Matthew Lloyd/Getty Images)

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Posted on October 30, 2012 at 3:14 PM

Associated Press

LOS ANGELES (AP) -- Disney is paying $4.05 billion to buy Lucasfilm Ltd., the production company behind "Star Wars," from its chairman and founder, George Lucas. It's also making a seventh movie in the "Star Wars" series.
 
   The Walt Disney Co. announced the agreement to make the purchase in cash and stock Tuesday. Disney added that "Star Wars Episode 7" is scheduled for release in 2015.
 
   The deal brings Lucasfilm under the Disney banner with other brands including Pixar, Marvel, ESPN and ABC.
 
   Kathleen Kennedy, the current co-chairman of Lucasfilm, will become its president and report to Walt Disney Studios Chairman Alan Horn. Lucas will be creative consultant on new "Star Wars" films.
 
   Lucas said in a statement, "It's now time for me to pass `Star Wars' on to a new generation of filmmakers."

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