Disney Buys Lucasfilm: Star Wars Episode VII Hits Theaters in 2015!!!

Breaking News:

The Hollywood Reporter is reporting that Disney has acquired LucasFilm for $4.05 billion in a mix of cash and stock and is set to produce a new Star Wars: Episode VII in 2015. The current co-chair of LucasFilm, Kathleen Kennedy will be appointed to LucasFilm as new president, with George Lucas staying on as a creative consultant. Details are scarce at this point, however George Lucas has been quoted as saying that he is happy to turn over the reigns of his lifelong legacy to Disney, a company with the resources to “blaze new trails” for Star Wars in various outlets.

Disney has released a statement claiming that it plans to continue the Star Wars saga with Episode VII in 2015, with new Star Wars films being released every 2-3 years.

“The last Star Wars movie release was 2005’s Revenge of the Sith – and we believe there’s substantial pent up demand. In 2015, we’re planning to release Star Wars Episode 7 – the first feature film under the “Disney-Lucasfilm” brand. That will be followed by Episodes 8 and 9 – and our long term plan is to release a new Star Wars feature film every two to three years. We’re very happy that George Lucas will be creative consultant on our new Star Wars films and that Kathleen Kennedy, the current Co-Chair of Lucasfilm, will executive produce. George handpicked Kathy earlier this year to lead Lucasfilm into the future. She’ll join Disney as President of Lucasfilm, reporting into Walt Disney Studios Chairman Alan Horn and integrating and building the Star Wars franchise across our company.”

We’ll keep you updated with the latest news surrounding this development, in the mean time, here is the original quote from George Lucas on The Hollywood Reporter’s website.

“For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next,” said Lucas, chairman and CEO of Lucasfilm, in a statement. “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. I’m confident that with Lucasfilm under the leadership of Kathleen 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 give Lucasfilm the opportunity to blaze new trails in film, television, interactive media, theme parks, live entertainment, and consumer products.”

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