Disney buys Lucasfilm for $4.05 billion – Star Wars Episode 7 billed for 2015

Walt Disney has acquired Lucasfilm for $4.05 billion and has taken George Lucas on board as a creative consultant for the 7th edition of Star Wars. Star Wars: Episode 7 is aimed for a 2015 release. Ownership of Lucasfilm will be taken over by Disney, along with the Star Wars franchise and other studios such as LucasArts, Skywalker Sound and Industrial Light & Magic.

According to Disney, Lucsfilm employees are to retain their current locations. George Lucas also went on say that it was important for Star Wars to be able to transit easily into the hands of a new generation of filmmakers. Lucas went on to say that it has been one of his greatest pleasures to see Star Wars being passed on from one generation to the next, for the past 35 years.

The chairman and CEO of Walt Disney Robert A. Iger said that the combination of the Star Wars franchise and Walt Disney completes a ‘world-class’ portfolio, as Disney reaches across platforms, markets and businesses and will be able to provide sustained growth for Star Wars, which is one of the biggest family entertainment franchises of all time.

According to reports, Kathleen Kennedy will be the executive producer of Star Wars: Episode 7, which is targeted for a 2015 release. Kennedy is currently the co-chairman of Lucasfilm and will become president of Lucasfilm once the Disney acquisition is complete.