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Star Wars Episode 7 releasing in 2015

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Lucasfilms has been acquired by the Walt Disney Company.  Disney has acquire Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas.  Lucas shall receive a value of $4.05 billion dollars.  Disney is paying approximately half of the consideration in cash and issuing approximately 40 million shares of Disney stock at the time of signing.  They have purchased the entire Star Wars portfolio including it’s live action film production, consumer products, animation, visual effects, and audio post production.

George Lucas said in statement to fans

“For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next. 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.”

Lucasfilm, headquartered in San Francisco will remain in it’s current location and will not be moved according to Disney representatives.  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.

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.

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