Disney buys Lucasfilm, plans to release 'Star Wars: Episode 7' in 2

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Disney buys Lucasfilm, plans to release 'Star Wars: Episode 7' in 2015

Star Wars fans, you might want to sit down for this one ? The Walt Disney Company just announced its plans to purchase Lucasfilm Ltd from George Lucas, with plans to releaseStar Wars: Episode 7 sometime during 2015. The deal is a stock and cash transaction, with Lucas receiving about half of the $4.05 billion value of the deal in cash. ""It's now time for me to pass Star Wars on to a new generation of filmmakers," Lucas said in a statement. "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."

The deal will see Disney take control of all of Lucafilm's assets, including the "evergreen"Star Wars franchise and operating businesses in "live action film production, consumer products, animation, visual effects, and audio post production."

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Source: The Verge

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