Disney to buy out LucasFilm
The Walt Disney Company will soon buy out Lucasfilm Ltd for $ 4.05 billion. Owned by George Lucas, the California based Lucasfilm has earlier produced films like Star Wars, Indiana Jones, American Graffiti, Willow, Tucker and THX 1138.
“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,” reads Disney’s press release announcing the acquisition.
Kathleen Kennedy, current Co-Chairman of Lucasfilm, will become President of Lucasfilm, reporting to Walt Disney Studios Chairman Alan Horn. She will also serve as the executive producer on seventh sequel of the Star Wars saga that is scheduled to release in 2015 under Disney.
The inclusion of Lucasfilm to Disney’s global portfolio follows that of Marvel in 2009, Pixar in 2006 and ABC in 1995 (ABC bought ESPN in 1984). Earlier this year, Disney also bought the Indian company UTV Software and Communications Ltd for $ 454 million.