Disney Buys Lucasfilm for $4Bn; will create sequels

[karassa]

Fanboys and girls, get ready to celebrate – or be disappointed: Disney announced Tuesday that it was buying Lucasfilm Ltd. for $4 billion, and continue the Star Wars franchise with a new film in 2015.

Here's more from the news release issued by Disney:

Under the terms of the agreement and based on the closing price of Disney stock on October 26, 2012, the transaction value is $4.05 billion, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing. The final consideration will be subject to customary post-closing balance sheet adjustments.

Lucasfilm founder George Lucas said the deal allows him a chance to pass the beloved Star Wars franchise on to a new generation of filmmakers.

"I've always believed that Star Wars could live beyond me, and I thought it was important to set up the transition during my lifetime," he said. "I'm confident that with Lucasfilm under the leadership of Kathleen Kennedy, and having a new home within the Disney organization, Star Wars will certainly live on and flourish for many generations to come."

Here's more on the deal:

"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 Star Wars franchise began in 1977 with the release of A New Hope. Five movies followed: Empire Strikes Back (1980), Return of the Jedi (1983), The Phantom Menace (1999), Attack of the Clones (2002) and Revenge of the Sith (2005). Combined, the movies have grossed more than $4 billion worldwide. The films have inspired generations of moviegoers and spawned a devoted fan base.

Disney bought Marvel Entertainment, and its associated characters, for $4 billion in 2009. The studio has had mega-successes with movies such as The Avengers and Iron Man.

I don't know whether to be thrilled, or terrified!

[spencer_]

Worst transaction ever.

[guest439437484421]

It's the one francise that i wouldn't mind seeing a reboot from the ground up. I'm talking complete world rewrites with plans to incorporate everything in a more seemless manner, and timeliness. There's so much to the Star Wars universe that us movie nerds just don't see cause it's buried in games and books.

I also think they shoudl reboot it because the last continuation didn't exactly work seemlessly. I honestly believe that had Lucas planned 1-3 to be filmed relatively in succession of 4-6 we could have gotten a better product, rather than the whole double trilogy spanning almost 3 decades.

Also, if Disney is smart, they'll make him keep his nose out as much as possible.

[msuroo]

Worst transaction ever.

For whom? The Mouse isn't exactly known for his poor business acumen. The Pixar and Marvel acquisitions sure aren't looking like bad deals. They expect to repurchase newly issued shares within two years, and for the Lucasfilm franchise to contribute to the bottom line by 2015. "Star Wars" is basically a license to print money. Even at 4bn, I'm guessing Disney makes out just fine on the deal in the long run.

[spencer_]

For whom? The Mouse isn't exactly known for his poor business acumen. The Pixar and Marvel acquisitions sure aren't looking like bad deals. They expect to repurchase newly issued shares within two years, and for the Lucasfilm franchise to contribute to the bottom line by 2015. "Star Wars" is basically a license to print money. Even at 4bn, I'm guessing Disney makes out just fine on the deal in the long run.

Sorry, should have clarified: They'll definitely survive and thrive on it. But I still think it's the stupidest thing in the world, personally. I like Star Wars as an adult property, not washed down kid crap.

[Damy]

"I have a really bad feeling about this..."

[msuroo]

Sorry, should have clarified: They'll definitely survive and thrive on it. But I still think it's the stupidest thing in the world, personally. I like Star Wars as an adult property, not washed down kid crap.

Still not with you. There was plenty of Star Wars "kid crap" before Disney. Will that continue? Of course - kids buy lots of toys. That doesn't say anything about the feature film franchise though - I mean, I wouldn't say The Avengers was "washed down". And they certainly can't do any worse than Eps I-III.

For the most part, Disney knows what they are doing. There's a reason Disney World is the most visited theme park, ESPN is the top sports network, GMA is the leading morning show, etc. They aren't in the habit of making stuff that people hate.

[spencer_]

Still not with you. There was plenty of Star Wars "kid crap" before Disney. Will that continue? Of course - kids buy lots of toys. That doesn't say anything about the feature film franchise though - I mean, I wouldn't say The Avengers was "washed down". And they certainly can't do any worse than Eps I-III.

For the most part, Disney knows what they are doing. There's a reason Disney World is the most visited theme park, ESPN is the top sports network, GMA is the leading morning show, etc. They aren't in the habit of making stuff that people hate.

Maybe so, and I'm probably overreacting since I haven't seen what they'll do with it, but I'm still just not happy with the exchange.

[msuroo]

Maybe so, and I'm probably overreacting since I haven't seen what they'll do with it, but I'm still just not happy with the exchange.

I hate to beat a dead horse, but I just don't understand this. Were you happy with the current state of the Star Wars franchise? I mean, "kid crap" is basically the only thing happening in the Star Wars universe as it is (Cartoon Network shows, the Lego franchise, etc). Were you expecting Eps VII - IX to a) be produced at all, and be any better than I - III?

Don't misunderstand me - I'm not saying that Disney is definitely going to nail it or anything, and I understand if people aren't high-fiving in the streets. But seriously, there's nowhere to go but up. I can't see a reason to be actively un-happy about the deal.

[Critter]

Maybe this'll be the kick in the pants that gets the live-action Star Wars tv series finally going.

Now if Disney would just hire Whedon for it...

[spencer_]

I hate to beat a dead horse, but I just don't understand this. Were you happy with the current state of the Star Wars franchise? I mean, "kid crap" is basically the only thing happening in the Star Wars universe as it is (Cartoon Network shows, the Lego franchise, etc). Were you expecting Eps VII - IX to a) be produced at all, and be any better than I - III?

Don't misunderstand me - I'm not saying that Disney is definitely going to nail it or anything, and I understand if people aren't high-fiving in the streets. But seriously, there's nowhere to go but up. I can't see a reason to be actively un-happy about the deal.

I was never expecting new episodes because Lucas had adamantly said no and I disliked the prologues. So I suppose you're right, it can't really get worse, only better. I don't really have a logical explanation for you, just that there's something that doesn't sit right with me. I don't really have much else to add I guess.

As a figure collector too this offers concern for hasbro too... but that is a completely different subject.

[Critter]

Really, since it's Disney, I think we all know where this is headed.

http://content8.flixster.com/photo/38/70/55/3870554_gal.jpg

[Raincloak]

Is this a Halloween joke?

If not, well... I always wanted to see the later episodes, and they can't possibly be worse than the prequels. But I sure wouldn't pick Disney to head up the franchise. I have the feeling it'll be one long string of plot holes and toy ads, like the last few films. They'll need to get new actors too, since the stars from the '80s are too old.

Though better writers than Lucas have come up with a lot of SW material they could use for movies. If only they make action films that an adult could stand to watch. I'll probably buy a movie ticket just to watch the pretty show, but I'm not optimistic about script quality. There's always hope though...

$4.05 billion, whew. That is multiple shitloads of money. Imagine what Disney is hoping to make from it!

P.s. no way will they have a film out in 2 years though. I expect it to take 3 to 5 years.

[The Tin Man]

I have mixed feelings. My first reaction was in line with Damy's "I have a really bad feeling about this...". Disney makes me nervous. Of course my first thoughts also included "I don't want it to be Disney-sanitized garbage!" This leads to my next point:

I'm glad someone other than George Lucas is doing this. And I don't think it's going to be worse than Ep I-III.

My current feeling? "I'm not excited, but I'm gonna watch it". With a relatively low bar "surprisingly good" is quite attainable. You move, Mouse.

Last note: Disney is not in the business of making things people hate, but they are in the business of making things generic enough that they are accessible and entertaining to most audiences. Which I guess is more audiences than enjoyed Ep I-III (especially I & II). So there's that. What has Disney put out that's been critically-acclaimed in the last ten years that didn't involve Pixar? I'm honestly curious and too busy/lazy to search myself right now.

[TheOtherScott]

Maybe this'll be the kick in the pants that gets the live-action Star Wars tv series finally going.

Now if Disney would just hire Whedon for it...

Giving Disney their biggest box-office draw since The Lion King likely means he'll get to work on whatever project he wants, but I think we're more likely to see him involved in the movies, should he want to be involved at all.

I'm hoping for Brad Bird to Direct the sequels.

[chairohkey]

What has Disney put out that's been critically-acclaimed in the last ten years that didn't involve Pixar? I'm honestly curious and too busy/lazy to search myself right now.

Tangled (2010), I liked it and its got a 90% RT Fresh Rating.

[Weazley]

I'm worried too - I love me some Star Wars - but the clone wars stuff was purely aimed at kids and I just couldn't keep watching/stomaching it.

A reboot almost seems like sacrilege - I mean to me - Star Wars (at least the original trilogy!) is not just a classic, its a defining, seminal moment in cinematic, sci fi and storytelling history. And I think a big part of that is because the characters are so iconic - and the actors who played the characters made them so. I'm not sure how I would feel about them being interpreted by another director, actor, studio or script.

But in saying all that, I've always believed in my heart that the thrawn trilogy was the forgotten star wars trilogy that should've been made.

I'm prepared to give the benefit of the doubt - and my curiosity for the time being.

[SpazzyMal]

I'm pretty into this acquisition, myself. Disney isn't perfect, but they're a lot better than most people tend to give them credit for. They own a lot of franchises, and have been buddy-buddy with Lucasfilm for a long time.

Honestly? I'm a bit of a Disnerd though, so take my opinion for what it is. I just want my Star Wars expansion at Walt Disney World. (I bet you it's coming, and soon.)

[Wooksquatch]

[ATTACH]6059[/ATTACH]

They already teased the new Death Star.

[SkiBlue]

While I'll slightly undecided about whether or not this is a good idea, I trust the decision. Disney is still giving Lucasfilm creative freedom and the co-chair appointed in June is now the head of the place. Sure, some things will change, but I'm glad and quite hopeful that this is will allow Star Wars to keep on going (in a good way). And like previously stated, would you rather have Lucas still at the wheel after everything he tried to 'change'?

Star Wars has also always been family-friendly though. Sure, you could probably kid it down more, but the original movies themselves are still considered very family oriented, plenty of things for both adults and kids. Those are obviously before a Disney take-over. I really don't think there's much to worry about on that end, considering the things Disney has been doing lately (Tangled is a good example, in my opinion). And I know I'm probably going to get a lot of talk back for all of this, but I love Star Wars. The Clone Wars (I don't think) has been really downed by kid material. Yes, it's aimed at kids, but if you actually keep watching it, they do go quite deeper than you might think. It's really not a bad animated series for adults, so long as you still like cartoons and stuff.

I'm obviously being very hopeful, but I don't really care.

[Rubducky]

As a hardcore Star Wars nerd, I don't know how I feel. I want the originals left untouched and canon. That's my only request. They are cinematic and sci-fi watershed productions that, despite aged, cheesy, dialog and some funny inconsistencies, remain my favorite three movies. Disney. . . You served my nerdiness during the Avenger's craze, now I beg you not to destroy Star Wars. Help me Disney, you are my only hope. . .

[KAllen]

My problems with this are as follows:

1) Now, StarTurds is considered legit, which I hate. SW was crap on a good day, now it's got the power of the Mouse, people will see it as legit.

2) Leah is now a Disney Princess...write your own jokes as that.

3) Buzz Lightyear is now tainted w/ Star Turds

4) Worst of all, since Disney also owns Marvel. Wolverine, Storm, Iron Man, & Thor are under the same banner as Puke Skybalker, Farth Vaper, and Pan Soho, what a tragedy!!!

[Critter]

[The Tin Man]

Well played, Critter

[cianalas]

My thoughts so far on this:

1) Well, they didn't force Marvel into the Disney stereotype, this has a chance

2) At least this should stop Lucas from "fixing" the original movies more.