Disney snaps up ‘Star Wars’ for $4bn

Star Wars fans take note — the saga continues.

Iconic filmmaker George Lucas has agreed to sell his Lucasfilm company to Disney for $4.05bn (€3.13bn).

In announcing the deal the two sides said a seventh Star Wars movie was due for release in 2015. Disney said further films were “expected to continue the Star Wars saga and grow the franchise well into the future”.

As part of the deal, which is split between cash and shares, Lucas will be creative consultant on new Star Wars films. Kathleen Kennedy, the co-chairman of Lucasfilm, will become its president.

Lucas said: “It’s now time for me to pass Star Wars 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.

“I’m confident that with Lucasfilm under the leadership of Kathleen Kennedy, and having a new home within the Disney organisation, Star Wars will certainly live on and flourish for many generations to come. Disney’s reach and experience give Lucasfilm the opportunity to blaze new trails in film, television, interactive media, theme parks, live entertainment, and consumer products.”

Lucasfilm, best known for the Star Wars films and multiple television series but which also produced the Indiana Jones films, was founded in 1971. It has been a leader in terms of digital and sound technology.

The deal brings Lucasfilm under the Disney banner with other brands including Pixar, Marvel, ESPN, and ABC.