Disney Adds Lucasfilm To Collection
IN a transaction valued at $4.05 billion, The Walt Disney Company has agreed to acquire Lucasfilm, the creator of the 35-year old Star Wars franchise.
Under terms of the agreement, Disney will pay half the agreed price in cash and issue approximately $40 million shares when the deal is closed. Lucasfilm is fully owned by its chairman and founder George Lucas.
The pact includes Lucasfilm’s Star Wars franchise, its live action film production, consumer, animation, visual effects, and audio postproduction properties. Kathleen Kennedy, current co-chairman of Lucasfilm, will become president of Lucasfilm, reporting to Walt Disney Studios chairman Alan Horn.
Kennedy will also executive produce the new Star Wars feature films, with George Lucas serving as creative consultant. Star Wars Episode 7 is targeted for release in 2015. Disney’s collection of iconic brands also includes Pixar, acquired in 2006, and Marvel, in 2009.