(Pictured: Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company; and George Lucas, Chairman and Founder of Lucasfilm)
Burbank and San Francisco – The Walt Disney Company has agreed to acquire Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas. It was also announced that Star Wars Episode 7 is targeted for release in 2015, with more feature films expected to continue the Star Wars franchise.
Under the terms of the agreement and based on the closing price of Disney stock on October 26, 2012, the transaction value is US$4.05 billion, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares. The final consideration will be subject to customary post-closing balance sheet adjustments.
Kathleen Kennedy, current Co-Chairman of Lucasfilm, will become President of Lucasfilm, reporting to Walt Disney Studios Chairman Alan Horn. Additionally, she will serve as the brand manager for Star Wars, working directly with Disney’s global lines of business to build, further integrate, and maximise the value of this global franchise. Kennedy will serve as executive producer on new Star Wars feature films, with Lucas serving as creative consultant.
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