Disney buys Lucasfilm - Star Wars Episode VII

from Yahoo:

Disney has agreed a deal to buy Lucasfilm from its founder George Lucas - and says it will make a new series of Star Wars movies.

The US entertainment giant, which already owns brands such as Pixar, Marvel, ESPN and ABC, announced it is paying $4.05bn (£2.52bn) for the production company.

It also confirmed it is making Star Wars Episode 7 , which is scheduled to be released in 2015.

Disney said the project would be the first in a new series of Star Wars films, with Disney Chief Executive Bob Iger revealing the plan is to release a new movie every two to three years.

The last Star Wars picture was Revenge of the Sith in 2005, and Lucas has in the past suggested there were no plans for any more.

The deal also includes the rights to the Indiana Jones franchise, although Disney did not reveal if it planned to revive the films featuring the action hero, played by Harrison Ford.

Kathleen Kennedy, the current co-chairman of Lucasfilm, will become its president and report to Walt Disney Studios Chairman Alan Horn.

Lucas, who created the Star Wars fictional universe and with it one of the most lucrative box office draws of all time, will be creative consultant on the new films.

After the deal was announced he said: "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."

Lucas will become the second-largest individual holder of Disney shares, with a 2.2% stake.

Disney will pay about half the purchase price in cash and issue about 40 million shares to complete the deal.

Chief Financial Officer Jay Rasulo, in prepared remarks, said the deal would lower Disney's earnings per share by a low single-digits percentage in 2013 and 2014.

He also said Disney would repurchase all of the issued shares on the open market within the next two years, on top of planned buybacks.

The deal marks the third time in less than seven years that Disney has signed a massive deal to take over beloved studios or characters, part of its strategy to acquire brands that can be stretched across TV, movies, theme parks and the Internet.

In early 2006, Disney struck a deal to acquire Toy Story creator Pixar, and in the summer of 2009 it bought the comic book powerhouse Marvel Entertainment.

I'm excited. No joke.

I mean, now that Star Wars is basically released into the wild, it's just a matter of handling it correction. And you can just imagine the caliber of directors that want to film a Star Wars movie!

The fact that Disney have guided Marvel Studios into great success with the Avengers series really bodes well for the company's ability to cater to what the public needs.

If nothing else, Star Wars Episode VII will better than at least one of the prequels, if not all.

Added bonus: George Lucas not directing. Love the dude, but really... time to step aside. And he has. Nice job.

I wonder what will happen with the Clone Wars series...

I'm nervous that there will be another Jar Jar Binx-like character to appeal to the younger audience. I know that Disney has done some more adult movies, but I think that their main audience is still young.

The problem with Jar Jar Binks was it was a character that was kind of forced upon us, where as Yoda - in some cases just as ridiculous a character - was introduced because the plot called for it and it worked. There's nothing to prevent Disney adding a new cartoonish character if it works in the plot.

As a side note, I'd expect the most likely alien looking main character added to the new films to be K'Khruhk - http://starwars.wikia.com/wiki/K%27Kruhk

We'll see. The thing is, Lucas will only be a consultant from what I hear so there will be plenty of people happy to tell him he's wrong. I don't think that happened during the development of the prequels.

I'm more excited than nervous. It may not be the greatest story ever told, but I think the new trilogy will be more than enjoyable.

I don't know much about the extended Star Wars universe, but I do know it's all over the place. It would be cool if someone ignored that stuff altogether and just made the best movie they possibly can. Possibly pull cool characters from the books and comics where they can.

Probably the best news out of Lucasfilm in a decade.

The old man needed to give up the reigns.

Not so worried about Disney shoving a new Jar-Jar or Ewok character in our faces. I'm sure there will be some kind of character to appeal to the kids. No doubt. So long as it's not shoved in our faces.

I'm hearing that Jon Favreau is in talks to direct Ep 7.

-HECK!

I don't recognize the name. What else has Favreau done? I suppose I could Google him