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Thread: George Lucas Sells Lucasfilm to Disney for $4.05 Billion

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    Elite Member Kathie_Moffett's Avatar
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    Default George Lucas Sells Lucasfilm to Disney for $4.05 Billion

    Hard to believe? Yup. It's true.

    Disney to acquire Lucasfilm for $4.05 billion - latimes.com

    Disney to acquire Lucasfilm for $4.05 billion

    By Ben Fritz
    1:46 PM PDT, October 30, 2012

    Walt Disney Co. has agreed to acquire Lucasfilm for $4.05 billion in a surprise deal that gives the media giant control of the "Star Wars" franchise.

    Along with the purchase, Disney announced that it plans to release a seventh live-action "Star Wars" movie in 2015.

    The agreement continues Chief Executive Bob Iger's strategy of growing Disney through huge acquisitions that give the Burbank company control of key pieces of intellectual property. In 2009, Disney acquired Marvel Entertainment for $4 billion, a deal that resulted in this year's hit "The Avengers." In 2006, Disney acquired "Toy Story" and "Cars" maker Pixar Animation Studios for $7.4 billion.

    "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," Iger said in a statement.
    In addition to "Star Wars," Disney's purchase of San Francisco-based Lucasfilm will give it ownership of special-effects company Industrial Light & Magic, sound company Skywalker Sound and video game publisher LucasArts.

    In June, "Star Wars" director and Lucasfilm owner George Lucas announced his plans to retire, and named producer Kathleen Kennedy as chief executive of Lucasfilm, which he wholly owns. Once the Disney acquisition is complete, Kennedy will become president of Disney's Lucasfilm unit and report to Walt Disney Studios Chairman Alan Horn.

    For fans, the most stunning part of Tuesday's announcement is likely Disney's intention to make more "Star Wars" movies. Following the one targeted for release in 2015, the company said "more feature films [are] expected to continue the 'Star Wars' saga and grow the franchise well into the future."

    In addition to new movies, Disney will look to use the "Star Wars" franchise throughout its businesses, including theme parks, consumer products, television and digital platforms.

    "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," George Lucas said in a statement. "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."

    Disney is funding approximately half of the purchase price with cash and the rest by issuing 40 million shares of stock. Regulatory authories must still approve the acquisition before it can close.
    ALSO:
    Kathleen Kennedy to helm Lucasfilm


    Did you know that every time a parent gives in to their kid's whines and buys them candy at the checkout lane, a kitten gets diabetes?-Dlisted
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    Elite Member Kathie_Moffett's Avatar
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    Disney to make new 'Star Wars' films, buy Lucas co - Yahoo! News

    Apparently George Lucas is chronically butthurt about harsh criticisms of the later films. Well, I agree that fantards can be obnoxious...but, sorry, imho they DID suck. Jar-Jar Binks?!? Fucking REALLY, George?

    News story:

    LOS ANGELES (AP) — A decade since George Lucas said "Star Wars" was finished on the big screen, a new trilogy under new ownership is destined for theaters after The Walt Disney Co. announced Tuesday that it was buying Lucasfilm Ltd. from him for $4.05 billion.
    The seventh movie, with a working title of "Episode 7," is set for release in 2015. Episodes 8 and 9 will follow. The trilogy will continue the story of Luke Skywalker, Han Solo and Princess Leia beyond "Return of the Jedi," the third film released and the sixth in the saga. After that, Disney plans a new "Star Wars" movie every two or three years. Lucas will serve as creative consultant in the new movies.
    "I'm doing this so that the films will have a longer life," Lucas, the 68-year-old creator of the series and sole owner of Lucasfilm, said in an interview posted on YouTube. "I get to be a fan now ... I sort of look forward to it. It's a lot more fun actually, than actually having to go out into the mud and snow."
    Disney CEO Bob Iger said Lucasfilm had already developed an extensive story line on the next trilogy, and Episode 7 was now in early-stage development. He said he talked with Lucas about buying the company from him a year and a half ago, but they didn't decide on a deal until very recently as Lucas set in motion his retirement.
    "The last 'Star Wars' movie release was 2005's 'Revenge of the Sith' — and we believe there's substantial pent-up demand," Iger said.
    The blockbuster deal announced Tuesday will see Disney pay half the acquisition price in cash and half in newly issued stock. The company expects it to add to earnings in 2015. Along with the cash, Lucas will end up owning about 40 million Disney shares, which is about a 2.2 percent stake of the 1.83 billion shares that will be in circulation when the transaction closes.
    The deal includes Lucasfilm's prized high-tech production companies, Industrial Light & Magic and Skywalker Sound, as well as rights to the "Indiana Jones" franchise.
    Lucas was hailed as a cinematic visionary when the original "Star Wars" came out in 1977. But he had become an object of often-vicious ridicule by the time he released 3-D versions of all six films in the Star Wars franchise earlier this year.
    Die-hard Star War fans had been vilifying Lucas for years, convinced that he had become a commercial sell-out and had compounded his sins by desecrating the heroic tale that he originally sought to tell.
    They railed against him for adding grating characters such as Jar Jar Binks in the second trilogy and attacked him for tinkering with the original trilogy, too. Any revision in special edition or home video releases — such as making the Ewoks blink or having a green-skinned alien named Greedo take the first shot at Han Solo in a famous bar scene — were treated as blasphemy.
    The criticism grated on Lucas, who vowed never to make another Star Wars movie.
    "Why would I make any more when everybody yells at you all the time and says what a terrible person you are?" Lucas told The New York Times earlier this year.
    "Indiana Jones and the Kingdom of the Crystal Skull," the fourth film in another lucrative franchise, subjected Lucas to even more barbs when it came to the big screen in 2008. Fans of those films were especially outraged about an opening scene that featured Indiana Jones crawling into a lead-lined refrigerator to survive a nuclear bomb blasting.
    Lucas was fed up by the time he released "Red Tails," a movie depicting the valor of African-American pilots during World War II, earlier this year. He told the Times he was ready to retire from the business of making blockbusters and return to his roots as a student at USC's film school, where he once made a movie about clouds moving in a desert.
    Kathleen Kennedy, the current co-chairman of Lucasfilm, will become the division's president and report to Walt Disney Studios Chairman Alan Horn. She will serve as executive producer for the new movies. Directors for the new movies have not yet been announced.
    In the YouTube video, Lucas said the decision to continue with the saga wasn't inconsistent with past statements.
    "I always said I wasn't going to do any more and that's true, because I'm not going to do any more, but that doesn't mean I'm unwilling to turn it over to Kathy to do more," Lucas said.
    He said he has given Kennedy his story lines and other ideas, "and I have complete confidence that she's going to take them and make great movies."
    Kennedy added that she and Lucas had discussed ideas with a couple of writers about the future movies and said Lucas would continue to have a key advisory role. "My Yoda has to be there," she said.
    The deal brings Lucasfilm under the Disney banner with other brands including Pixar, Marvel, ESPN and ABC, all companies that Disney has acquired over the years.
    A former weatherman who rose through the ranks of ABC, Iger has orchestrated some of the company's biggest acquisitions, including the $7.4 billion purchase of animated movie studio Pixar in 2006 and the $4.2 billion acquisition of comic book giant Marvel in 2009.
    Coincidentally, Lucas owned the startup that later became Pixar, before he sold it to Apple's Steve Jobs in 1986 for about $5 million. When Jobs sold Pixar to Disney, he became Disney's largest single shareholder with a 7.7 percent stake. Those shares are now held in a trust.
    Disney shares were not trading with stock markets closed due to the impact of Superstorm Sandy in New York. They closed on Friday at $50.08.
    ___
    AP Technology Writer Michael Liedtke in San Francisco contributed to this story.
    Did you know that every time a parent gives in to their kid's whines and buys them candy at the checkout lane, a kitten gets diabetes?-Dlisted
    I dislike groups of people, but I love individuals. Every person you look at, you can see the universe in their eyes, if you're really looking.
    -George Carlin

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    Elite Member Kathie_Moffett's Avatar
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    Sorry no paragraph breaks in the second story, and the triple-posting; board will not let me edit/preview ATM. Just gives me blank text boxes. WTF. Maybe Disney should buy GR.
    Waterslide and Brookie like this.
    Did you know that every time a parent gives in to their kid's whines and buys them candy at the checkout lane, a kitten gets diabetes?-Dlisted
    I dislike groups of people, but I love individuals. Every person you look at, you can see the universe in their eyes, if you're really looking.
    -George Carlin

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    Elite Member Seapharris7's Avatar
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    I guess they're running out of things to RUIN
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    Sugar... The real gateway drug

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    Gold Member Merlot-N-Bali's Avatar
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    Not surprised - Star Wars is already a pretty big presence at Disney Parks in Florida.
    "You should've never trusted Hollywood..."

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    Elite Member OrangeSlice's Avatar
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    NOOOOOOOO! Those bastards! Why would they do that, those greedy sons of bitches. Dammit George, be creative and create something new instead of continuing to ruin what once was something awesome. I love me some original SW trilogy, but I will not touch that pile of crap that is the prequel trilogy.
    "Schadenfreude, hard to spell, easy to feel." ~VenusinFauxFurs

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    Elite Member WhateverLolaWants's Avatar
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    They might actually get some decent people on board to work on this. Its not as if Disney has never put out a good picture. I'm not making judgements yet; nothing could be worse than the prequels, after all. *knock on wood*
    Mercer likes this.
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    Elite Member OrangeSlice's Avatar
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    I just don't want to see more new people playing the main parts. Someone else playing Luke, Han, and Leia? Unless they all return to play themselves and the movies are about their kids. Which it could be. Some of the post-episode 6 storylines form the novels were interesting. But it still won't have the charm.
    "Schadenfreude, hard to spell, easy to feel." ~VenusinFauxFurs

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    Elite Member WhateverLolaWants's Avatar
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    Yeah, its too late to do most of the thrawn novels now
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    There will be times you might leap before you look
    There'll be times you'll like the cover and that's precisely why you'll love the book
    Do it anyway

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    Richer get the rich, mmm.
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    Elite Member MohandasKGanja's Avatar
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    FINALLY, I can get some sleep at night, knowing George Lucas is taken care of financially.

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    Elite Member Love love's Avatar
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    Quote Originally Posted by WhateverLolaWants View Post
    Yeah, its too late to do most of the thrawn novels now
    Diehard fangirl here! I would be disappointed if they made any of the Timothy Zahn books into movies. Those are without a doubt the best Star Wars books and it would be a major let down if the movies were anything less than great. I'm trying to stay optimistic about this but to be completely honest, my ass will be in line on opening day for the midnight premier of any new SW movie, no matter how shitty it may be
    WhateverLolaWants likes this.

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    Elite Member MohandasKGanja's Avatar
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    I would be first in line for any new Star Wars film featuring the grisly 3D demise of Jar Jar Binks.
    Kathie_Moffett likes this.

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    Elite Member Laurent's Avatar
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    Can't wait to miss it.
    “What are you looking at, sugar-tits?” - Mel Gibson

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    Elite Member MohandasKGanja's Avatar
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    Quote Originally Posted by Laurent View Post
    Can't wait to miss it.
    There will be lines around the block to miss this new trilogy.
    Seapharris7 likes this.

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