Disney has just made one of the biggest moves this year by acquiring Lucasfilm. Founder, George Lucas, sold the company for $4.05 billion in shares and cash.
This new acquisition could mean more revenue for Disney as Lucasfilm holds the complete rights to the legendary “Star Wars” franchise. Disney CEO has been pursuing Lucas for the sale of his movie empire for over a year and succeeded.
Lucas received 40 million in Disney shares through the deal. This will make him the second largest non-institutional Disney shareholder. The 68-year old visionary falls behind Apple co-founder Steve Jobs in Disney shares. Lucas will still be serving as creative consultant of the movie outfit, but plans to retire soon.
With this purchase, Disney has strengthened their status as the leader in animation and of super hero films. Disney has previously purchased Marvel Entertainment for $4 billion in 2009 and Pixar Animation Studios for $4.7 billion in 2006. This also ensures the legacy of Disney’s current CEO, Robert Iger, which marks the most aggressive expansion of the company. He will remain CEO of the company until 2015.
Disney has plans to revive the Star Wars franchise and release its seventh feature film in 2015. They also planned to come up with a movie two or three years after the seventh film with Lucas as consultants for these projects.