Disney Acquires Lucasfilm Company for $4.05 Billion
Bob Iger, CEO of Disney was joined by legendary producer and filmmaker, George Lucas to announce Disney’s acquisition of Lucasfilm company and the rights to the Star Wars universe for $4.05 billion.
For years, George Lucas has hinted at his retirement. By selling his life work to Disney, Lucas wants to ensure he has a comfortable retirement. In September 2012, Forbes estimated Lucas’ net worth to be $3.3 billion. The 68-year-old filmmaker has little to worry about when it comes to living comfortably in his golden years. Lucas hopes to follow in the footsteps of Microsoft founder Bill Gates and dedicate his life to philanthropic works that focus on education and health charities.
Disney’s sole reason for acquiring the Lucasfilm company was for the Star Wars franchise. Three new Star Wars films are in the works with Kathleen Kennedy taking over running Lucasfilm and overseeing the production of the new films. Lucas will step back from the business and continue on in a creative consultant capacity for the next three Star Wars movies.
In acquiring Lucasfilms, Disney will also own the Indiana Jones franchise, a strong games division, special effects company Industrial Light and Magic and Oscar winning post production company Skywalker Sound.
The first new Star Wars film should hit theaters in 2015.