If you just got an internet connection in your Sarlaac Pit, allow us to be the first to tell you that Disney has bought Lucasfilm — George Lucas' entertainment empire, including the Star Wars and Indiana Jones franchises — for $4.1 billion.
Until now, Lucasfilm has been 100% owned by founder George Lucas, who's had a complicated relationship with his fans. Beloved by many for creating Star Wars in the first place, he's also been demonised for his digital alterations to the original films, the poor quality of the prequel films, and the increasing infantalisation of the franchise. On the other hand, CGI animated television series, Star Wars: The Clone Wars — the last major project personally overseen by Lucas — has been widely acclaimed by fans and critics.
For fans, the most exciting part of the deal is no doubt the announcement that Star Wars Episode VII is targeted for a 2015 release, with new films to follow every few years after that.
"For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next," said George Lucas, Chairman and Chief Executive Officer of Lucasfilm, in a statement. "It's now time for me to pass Star Wars on to a new generation of filmmakers."
Kathleen Kennedy, co-chairman of LucasFilm, will report to Walt Disney Studios Chairman Alan Horn. George Lucas will consult on the new films. As part of the deal, Disney will take ownership of LucasArts, Industrial Light & Magic and Skywalker Sound.
Almost unbelievably, the buyout is only the fourth largest ever made by Disney. It comes in behind the $19.7 billion, $7.6 billion and $5.2 billion buyouts of Capital Cities/ABC in 1995, Pixar in 2006, and Fox Family in 2001 (but tops the $3.96 billion Disney laid out for Marvel in 2009).
There's a lot for Star Wars fans to digest and ponder here, and we'll be breaking it all down over the course of the day. Stay tuned.
