A giant, cash laden bombshell exploded in Burbank, California as the press release went out stating that The Walt Disney Company has just closed a deal with George Lucas to purchase Star Wars and Indiana Jones adventure creation studio Lucasfilm for $4.05 billion, about $2 million cash in addition to 40 million shares of Disney stock. The deal not only includes the intellectual property rights to Lucas’ entertainment franchises such as Star Wars, but also all other business operated by Lucasfilm such as video game maker LucasArts, special effects house Industrial Light & Magic, and audio engineering firm Skywalker Sound.
As if that were not enough to keep snarky Internet commenters cracking wise for months, Disney went on to announce that Kathleen Kennedy, Lucasfilm’s next president, will serve as executive producer for Star Wars Episode 7. This next film in the Star Wars series is already slated for a 2015 release. This release will be followed up by Episodes 8 and 9 at yet to be announced dates. Lucas will be hired as a creative consultant on this new trilogy.
Full press release is available at Yahoo. You can skip the reading and listen to a recording of the conference call when this deal was announced embedded below.