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Star Wars 7, 8 and 9 – Three more films as a result of Disney acquiring Lucasfilm

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Disney acquires Lucusfilm - Robert A Iger and George Lucas
Disney acquires Lucusfilm – Signing the agreement Robert A Iger (President and Chief Executive Officer, The Walt Disney Company) and George Lucas ©2012 Disney

Well big news today about Star Wars 7 and more. 2015 will be the year a seventh film will be released under the guidence of Kathleen Kennedy with George Lucas acting as consultant.

Star Wars Movies - Kathleen Kennedy
The Future of Star Wars Movies – Kathleen Kennedy, current Co-Chairman of Lucasfilm, will become President of Lucasfilm

A long long time ago – in this same galaxy I remember when Star Wars films came out there was talk of three trilogies of Star Wars film. Some how along the way that vanished and we were left with the six films. Now, it seems, that idea has been revised and we will get Star Wars 7, 8 and 9.

George Lucas said “I always said I wasn’t going to do anymore, and that’s true, I’m not going to do anymore. But that doesn’t mean I’m unwilling to turn it over to Kathy [Kennedy] to do more.”

Disney acquires Lucusfilm - Robert A Iger and George Lucas
Disney acquires Lucusfilm – Signing the agreement Robert A Iger (President and Chief Executive Officer, The Walt Disney Company) and George Lucas ©2012 Disney

He then went on to reveal “I have story treatments of  Star Wars 7, 8, and 9, and a bunch of other movies and obviously we have hundreds of books and comics and everything you could possibly imagine. So, I sort of moved that treasure trove of stories and various things to Kathy and I have complete confidence that she’s gonna take them and make great movies.”

It is all part of a deal with Disney acquiring Lucasfilm. The Walt Disney Company announced today that it is acquiring Lucasfilm, the entertainment company founded by George Lucas and the home of the legendary Star Wars franchise.

In the video below you can watch George Lucus and Kathleen Kennedy discus the plans for Star Wars 7.

In the vidoe below you can watch Chairman and Chief Executive Officer of The Walt Disney Company Bob Iger and George Lucas, Chairman and Chief Executive Officer of Lucasfilm, discuss the announcement.

Disney acquiring Lucasfilm and Star Wars 7, 8, and 9 – Press release

Disney to acquire Lucasfilm - Logo
Disney to acquire Lucasfilm Ltd – Global leader in high-quality family entertainment agrees to acquire world-renowned Lucasfilm Ltd, including legendary Star Wars franchise

Disney to Acquire Lucasfilm Ltd

Global leader in high-quality family entertainment agrees to acquire

world-renowned Lucasfilm Ltd, including legendary STAR WARS franchise.

Acquisition continues Disney’s strategic focus on creating and monetizing the world’s best branded content, innovative technology and global growth to drive long-term shareholder value.

Lucasfilm to join company’s global portfolio of world class brands including

Disney, ESPN, Pixar, Marvel and ABC.

STAR WARS: EPISODE 7 feature film targeted for release in 2015.

Burbank, CA and San Francisco, CA, October 30, 2012 – Continuing its strategy of delivering exceptional creative content to audiences around the world, The Walt Disney Company (NYSE: DIS) has agreed to acquire Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas.

Under the terms of the agreement and based on the closing price of Disney stock on October 26, 2012, the transaction value is $4.05 billion, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing. The final consideration will be subject to customary post-closing balance sheet adjustments.

“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.”

“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.”

Under the deal, Disney will acquire ownership of Lucasfilm, a leader in entertainment, innovation and technology, including its massively popular and “evergreen” Star Wars franchise and its operating businesses in live action film production, consumer products, animation, visual effects, and audio post production. Disney will also acquire the substantial portfolio of cutting-edge entertainment technologies that have kept audiences enthralled for many years. Lucasfilm, headquartered in San Francisco, operates under the names Lucasfilm Ltd., LucasArts, Industrial Light & Magic, and Skywalker Sound, and the present intent is for Lucasfilm employees to remain in their current locations.

Kathleen Kennedy, current Co-Chairman of Lucasfilm, will become President of Lucasfilm, reporting to Walt Disney Studios Chairman Alan Horn. Additionally she will serve as the brand manager for Star Wars, working directly with Disney’s global lines of business to build, further integrate, and maximize the value of this global franchise. Ms. Kennedy will serve as executive producer on new Star Wars feature films, with George Lucas serving as creative consultant. Star Wars Episode 7 is targeted for release in 2015, with more feature films expected to continue the Star Wars saga and grow the franchise well into the future.

The acquisition combines two highly compatible family entertainment brands, and strengthens the long-standing beneficial relationship between them that already includes successful integration of Star Wars content into Disney theme parks in Anaheim, Orlando, Paris and Tokyo.

Driven by a tremendously talented creative team, Lucasfilm’s legendary Star Wars franchise has flourished for more than 35 years, and offers a virtually limitless universe of characters and stories to drive continued feature film releases and franchise growth over the long term. Star Wars resonates with consumers around the world and creates extensive opportunities for Disney to deliver the content across its diverse portfolio of businesses including movies, television, consumer products, games and theme parks. Star Wars feature films have earned a total of $4.4 billion in global box to date, and continued global demand has made Star Wars one of the world’s top product brands, and Lucasfilm a leading product licensor in the United States in 2011. The franchise provides a sustainable source of high quality, branded content with global appeal and is well suited for new business models including digital platforms, putting the acquisition in strong alignment with Disney’s strategic priorities for continued long-term growth.

The Lucasfilm acquisition follows Disney’s very successful acquisitions of Pixar and Marvel, which demonstrated the company’s unique ability to fully develop and expand the financial potential of high quality creative content with compelling characters and storytelling through the application of innovative technology and multiplatform distribution on a truly global basis to create maximum value. Adding Lucasfilm to Disney’s portfolio of world class brands significantly enhances the company’s ability to serve consumers with a broad variety of the world’s highest-quality content and to create additional long-term value for our shareholders.

The Boards of Directors of Disney and Lucasfilm have approved the transaction, which is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, certain non-United States merger control regulations, and other customary closing conditions. The agreement has been approved by the sole shareholder of Lucasfilm.