In a major industry move, Walt Disney Company acquired Lucasfilm Ltd., the company that produced the "Star Wars" franchise for $4.05 billion in cash and stock. Both sides are excited about the deal, as Disney now reserves the rights to expand upon the industry, which will allow Lucasfilm the opportunity to step back and become a fan (Smith).
"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," Lucas said. "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" (Smith).
Disney theme parks in California and Florida already have themed attractions, including a 3D flight simulator ride called Star Tours and a live show where kids from the audience participate in Jedi training (Smith). .
"Star Wars" producer, George Lucas, is the sole owner of Lucasfilm. He started the studio over thirty years ago and has served as the chairman and chief executive ever since. In the past, Lucas played a huge part of the films, taking control of even the tiniest of details (Richwine). However, in an interview in 2008, he admitted that the "Star Wars" saga ended for him with the Ewoks on Endor. He will now act as a consultant on future films (McIntyre).
"There really isn't any story to tell there," he said when asked about his participation levels in franchise movies beyond the "Return of the Jedi." "I get asked all the time, 'What happens after "Return of the Jedi"?' And there really is no answer for that," Lucas said. "The movies were the story of Anakin Skywalker and Luke Skywalker, and when Luke saves the galaxy and redeems his father, that's where the story ends" (McIntyre). .
Lucas and the Walt Disney Company released a video today announcing the acquisition and detailing Lucas' future participation in the films.