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Summary The seventh movie, with a working title of Episode 7, is set for release in 2015.
A decade since George Lucas said Star Wars was finished on the big screen, a new trilogy under new ownership is destined for theaters after The Walt Disney Co. announced Tuesday that it was buying Lucasfilm Ltd. from him for $4.05 billion.The seventh movie, with a working title of Episode 7, is set for release in 2015. Episodes 8 and 9 will follow. The trilogy will continue the story of Luke Skywalker, Han Solo and Princess Leia beyond Return of the Jedi, the third film released and the sixth in the saga. After that, Disney plans a new Star Wars movie every two or three years. Lucas will serve as creative consultant in the new movies.Im doing this so that the films will have a longer life, Lucas, the 68-year-old creator of the series and sole owner of Lucasfilm, said in an interview posted on YouTube. I get to be a fan now ... I sort of look forward to it. Its a lot more fun actually, than actually having to go out into the mud and snow.Disney CEO Bob Iger said Lucasfilm had already developed an extensive storyline on the next trilogy, and Episode 7 was now in early-stage development. He said he talked with Lucas about buying the company from him a year and a half ago, but they didnt decide on a deal until very recently as Lucas set in motion his retirement.The last Star Wars movie release was 2005s Revenge of the Sith and we believe theres substantial pent-up demand, Iger said. The blockbuster deal announced Tuesday will see Disney pay half the acquisition price in cash and half in newly issued stock. The company expects it to add to earnings in 2015 and said that as an example of its earnings power,Lucasfilm made $550 million in operating income the year Sith came out. Along with the cash, Lucas will end up owning about 40 million Disney shares, which is about 2.2 percent of the 1.83 billion shares that will be in circulation when the transaction closes. Disney did not say when that would happen.The deal includes Lucasfilms prized high-tech production companies, Industrial Light & Magic and Skywalker Sound, as well as rights to the Indiana Jones franchise. Lucasfilm will continue to be headquartered in San Franciscos Presidio park, and employees are to remain in their current locations. Disney has its headquarters in Burbank, California, near Los Angeles.The deal brings Lucasfilm under the Disney banner with other brands including Pixar, the Muppets, Marvel, ESPN and ABC, all companies that Disney has acquired over the years. Coincidentally, Lucas created Pixar as a division of Lucasfilm to develop computerized filmmaking techniques before he sold it to Apples Steve Jobs, who later sold it to Disney.Twitter went wild with the news as fans speculated on mash-up titles for future movies, using the hashtag DisneyStarWars. Among the amusing attempts were When You Wish Upon a Death Star and Bambi Wan Kenobi.Star Wars, LucasArts, Disney, and Indiana Jones were all trending topics on Twitter after the deal was announced late Tuesday afternoon.
