The Walt Disney Company will acquire Lucasfilm Ltd.
The Walt Disney Company has agreed to acquire Lucasfilm Ltd. in a cash and stock deal worth $4.05 billion, with Disney paying about half in cash and issuing approximately 40 million shares at closing. According to SFGate.com:
The deal includes not only Star Wars — a 7th episode is due in 2015 — but also other businesses operated by Lucasfilm, including LucasArts, Industrial Light & Magic, and Skywalker Sound.
Disney said the current plan is for Lucasfilm employees to remain in their current locations (in the Bay Area).
For Disney, Lucasfilms joins other brands under its banner, including Pixar, headquartered in Emeryville, Marvel, ESPN and ABC.
Disney will acquire ownership of Lucasfilm and its operating businesses in live action film production, visual effects, consumer products, animation, and audio post production, as well as the huge Star Wars franchise and a patent portfolio of state-of-the-art entertainment technologies.
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 long-standing relationship between the two companies has already integrated Star Wars content into Disney theme parks in Anaheim, Orlando, Paris, and Tokyo, but the Lucasfilm acquisition seems to have caught Wall Street by surprise, since today was the second day that the New York Stock Exchange was closed by damage from Hurricane Sandy. There was a conference call scheduled for investors this afternoon.
It’s OK. A LOT of things catch Wall Street by surprise! 😉 Living in your wallet will DO that to people.
All in all, as with the Pixar acquisition, I am saddened by the news, but I remain hopeful for the future.
-Bill at
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