Lucas sells Lucasfilm Ltd and Star Wars franchise for $4 billion...and Ep 7 announced

edkwon

edkwon

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http://www.businesswire.com/news/home/20121030006384/en/Disney-Acquire-Lucasfilm-Ltd

Disney to Acquire Lucasfilm Ltd.

Global leader in high-quality family entertainment agrees to acquire world-renowned Lucasfilm Ltd, including legendary STAR WARS franchise.

Acquisition continues Disney?s strategic focus on creating and monetizing the world?s best branded content, innovative technology and global growth to drive long-term shareholder value.

Lucasfilm to join company?s global portfolio of world class brands including Disney, ESPN, Pixar, Marvel and ABC.

STAR WARS: EPISODE 7 feature film targeted for release in 2015.

An investor conference call will take place at approximately 4:30 p.m. EDT / 1:30 p.m. PDT today, October 30, 2012. Details for the call are listed in the release.

BURBANK, Calif. & SAN FRANCISCO--(BUSINESS WIRE)--Continuing its strategy of delivering exceptional creative content to audiences around the world, The Walt Disney Company (NYSE: DIS) has agreed to acquire Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas.

?This transaction combines a world-class portfolio of content including Star Wars, one of the greatest family entertainment franchises of all time, with Disney?s unique and unparalleled creativity across multiple platforms, businesses, and markets to generate sustained growth and drive significant long-term value.?
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 reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas,? said Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company. ?This transaction combines a world-class portfolio of content including Star Wars, one of the greatest family entertainment franchises of all time, with Disney?s unique and unparalleled creativity across multiple platforms, businesses, and markets to generate sustained growth and drive significant long-term value.?

?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. ?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 organization, 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.?

Under the deal, Disney will acquire ownership of Lucasfilm, a leader in entertainment, innovation and technology, including its massively popular and ?evergreen? Star Wars franchise and its operating businesses in live action film production, consumer products, animation, visual effects, and audio post production. Disney will also acquire the substantial portfolio of cutting-edge entertainment technologies that have kept audiences enthralled for many years. Lucasfilm, headquartered in San Francisco, operates under the names Lucasfilm Ltd., LucasArts, Industrial Light & Magic, and Skywalker Sound, and the present intent is for Lucasfilm employees to remain in their current locations.

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 acquisition combines two highly compatible family entertainment brands, and strengthens the long-standing beneficial relationship between them that already includes successful integration of Star Wars content into Disney theme parks in Anaheim, Orlando, Paris and Tokyo.

Driven by a tremendously talented creative team, Lucasfilm?s legendary Star Wars franchise has flourished for more than 35 years, and offers a virtually limitless universe of characters and stories to drive continued feature film releases and franchise growth over the long term. Star Wars resonates with consumers around the world and creates extensive opportunities for Disney to deliver the content across its diverse portfolio of businesses including movies, television, consumer products, games and theme parks. Star Wars feature films have earned a total of $4.4 billion in global box to date, and continued global demand has made Star Wars one of the world?s top product brands, and Lucasfilm a leading product licensor in the United States in 2011. The franchise provides a sustainable source of high quality, branded content with global appeal and is well suited for new business models including digital platforms, putting the acquisition in strong alignment with Disney?s strategic priorities for continued long-term growth.

The Lucasfilm acquisition follows Disney?s very successful acquisitions of Pixar and Marvel, which demonstrated the company?s unique ability to fully develop and expand the financial potential of high quality creative content with compelling characters and storytelling through the application of innovative technology and multiplatform distribution on a truly global basis to create maximum value. Adding Lucasfilm to Disney?s portfolio of world class brands significantly enhances the company?s ability to serve consumers with a broad variety of the world?s highest-quality content and to create additional long-term value for our shareholders.

The Boards of Directors of Disney and Lucasfilm have approved the transaction, which is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, certain non-United States merger control regulations, and other customary closing conditions. The agreement has been approved by the sole shareholder of Lucasfilm.

Note: Additional information and comments from Robert A. Iger, chairman and CEO, The Walt Disney Company, and Jay Rasulo, senior executive vice president and CFO, The Walt Disney Company, regarding Disney?s acquisition of Lucasfilm, are attached.
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I think everything about this is good news.

Lucas just got $4b. He's happy.

Disney got a huge sum of entertainment production technologies and capabilities.

Disney now gets rights to the biggest cash cow in movie history. Putting it that way makes it sound bad, but no way can Disney screw up a Star Wars movie worse than Lucas. In fact, I think Disney could do good things with it. Now I hope I don't eat those words in 2 years.
 
Beat me by a seconds!

Nerds across the net are fucking going nuts. Most of it hate, of course. Seems like that's all anyone wants to do now is piss on everything that comes out.

I will wait to see the film before saying it's a good or bad thing.
 
SpitfireMK461 said:
Disney now gets rights to the biggest cash cow in movie history. Putting it that way makes it sound bad, but no way can Disney screw up a Star Wars movie worse than Lucas. In fact, I think Disney could do good things with it. Now I hope I don't eat those words in 2 years.
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Disagree, if they can make $$$ off of it, Disney can easily churn out products worse than the new trilogy and his Lucasified original trilogy. But they're in the position to do a lot of good as well. Time will tell how this plays out. Would be great if they turn to the expanded universe novels as source material.
 
Disney was in charge when the Avengers was being made. That's a good sign.
 
^ Exactly, the nerd rage was at critical mass then too. God, I hate the people sometime.
 
JohnnyRacer said:
^ Exactly, the nerd rage was at critical mass then too. God, I hate the people sometime.
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nerds and fans are the best and worst thing about any popular fiction franchise. If there was only a way of separating the sensible, positive ones, from the rest of the pieces of sh**.
 
Star Wars Episode 7: Empire 2.0
 
edkwon said:
Disagree, if they can make $$$ off of it, Disney can easily churn out products worse than the new trilogy and his Lucasified original trilogy. But they're in the position to do a lot of good as well. Time will tell how this plays out. Would be great if they turn to the expanded universe novels as source material.
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Disney isn't one to turn out crap, though. They tend to put out quality stuff.
 
SpitfireMK461 said:
Disney isn't one to turn out crap, though. They tend to put out quality stuff.
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*cough* original home video sequels *cough* you've got your blinders turned only to Disney feature films my friend. Disney's film and tv product range is pretty vast, and there is plenty of junk out there amongst all the gems they produced.
 
I'd say they know their audience, turning out stuff that's just crappy/good enough for the kids, fans, whatever who watch them. Let's see if their quality control calibration stays on target for this one.
 
edkwon said:
*cough* original home video sequels *cough* you've got your blinders turned only to Disney feature films my friend. Disney's film and tv product range is pretty vast, and there is plenty of junk out there amongst all the gems they produced.
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And you really think they'd make a straight to video Star Wars movie instead of a AAA biggest movie of the year production?
 
Its just another movie. If its good, I'll see it. If its not, I won't. Simple as that. Yes, I love Star Wars as much as the next nerd, but its just a movie at the end of the day. I do hate how these things have been built up to be this epic legendary thing. I enjoyed the original trilogy, and thats all that matters about them. Did you enjoy them? I didn't enjoy the new three, but I don't lose sleep over them.

Think of it like this: Lucas won't be able to re-release them with more stupid changes. How many times has Star Wars been released in the theaters, VHS, DVD, Blu Ray, or Laserdisc? Its the same movie over and over. Finally, something new can be done.
 
SpitfireMK461 said:
And you really think they'd make a straight to video Star Wars movie instead of a AAA biggest movie of the year production?
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I knew someone would say that and no, not the point i'm trying to back. Of course they would bring out their A game behind SW feature films but whomever originally said Disney has a flawless track record is incredibly biased. Don't make ridiculous assumptions based on what I said, you know that is not that case.
 
Cobol74 said:
I do not think that move on Disney's part was smart actually, and they over paid - time will tell.
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The funny thing is, as I read your post, I overheard people in my office talking about it. They are of the opinion that Lucasarts was undersold and that it was worth a lot more. Something was mentioned about the amount of money they will make off each movie. I just thought it odd about hearing and reading the opposite opinions at the same time.
 
Lucas sells Lucasfilm Ltd and Star Wars franchise for $4 billion...and Ep 7 announced

Shentar said:
The funny thing is, as I read your post, I overheard people in my office talking about it. They are of the opinion that Lucasarts was undersold and that it was worth a lot more. Something was mentioned about the amount of money they will make off each movie. I just thought it odd about hearing and reading the opposite opinions at the same time.
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Armchair entertainment economists at their finest. Unless you work for a finance company w business clients. then your coworkers may actually know what they're talking about
 
Now Disney can add another princess to their list :p
 
Thank Christ. Now maybe I can get the original, unmolested, holy trilogy on bluray without all the shitty "improvements" Lucas stuffed into them.

I haven't read anything yet, but I was once a huge fan of the Star Wars novels, so I know there is some excellent material out there for future films. I'm happy about this change of ownership.
 
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