Disney purchases Star Wars

Filmmaker George Lucas meets "Star Wars"-inspired Disney characters at Walt Disney World Resort in Florida

Walt Disney Co agreed to purchase the “Star Wars” franchise for $4.05 billion in cash and stock. This comes as no suprise to me, it seems hard to imagine him making another three and it could possibly end up in the right hands of a capable director, a friend recently brought up Disney’s Tron remake, which in my opinion was visually perfect, as a possible “taste of what’s to come” from a style standpoint. Disney plans to release at least three more films in the Star Wars sci-fi saga Chief Executive Bob Iger told analysts on Tuesday.  Lucas said in a video interview released Tuesday on Starwars.com that he had already created story outlines for three more films as well as many other Star Wars story ideas.

Lucas will stay on as a creative consultant on the new films, although in the video interview he pointed out that the sale was made in partly to full fill a personal desire to exit the mainstream film industry. In a statement on Tuesday, Lucas said: “It’s now time for me to pass ‘Star Wars’ on to a new generation of filmmakers.” He will become the second-largest individual holder of Disney shares, with a 2.2 percent stake.Disney will pay about half the purchase price in cash and issue about 40 million shares at closing. “This is one of the greatest entertainment properties of all time,” said Iger.

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