Looks like Chairman and CEO of Lucasfilm, George Lucas is looking toward the future and personally overseeing a transition of his empire. This transition (to jump to the point) is Lucasfilm being acquired by Disney for $4.05-Billion in cash and stock.
"Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder George Lucas, said Robert A. Iger, Chairman and 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 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 to a new generation of filmmakers. I've always believed that Star Wars could live beyond me, and I thought it would it was important to set up the transition during my lifetime. I am confident that with the Lucasfilm under the leadership of Katherine 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 gives Lucasfilm the opportunity to blaze new trails in the film, television, interactive media, theme parks, live entertainment and consumer products."So what does this mean for the Star Wars franchise? Turn out Disney is planning on extending the series with Episode VII and more sequels to follow (of course):
Lucasfilm President Kathleen Kennedy, now acting under the Disney umbrella, will produce Star Wars Episode VII, with George Lucas serving as a creative consultant. The film is being planned for a 2015 release, with further continuation of the franchise planned for the future.