DISNEY TO ACQUIRE LUCASFILM LTD.
Well the news has spread like a viral video of a cute kitten sleeping. Disney has bought Lucasfilm for 4 BILLION dollars. You can take this one of two ways . HAPPY There will be more Star Wars films. SAD Disney will be at the helm of new Star Wars films. This acquisition includes visual fx powerhouse Industrial Light and Magic !
Star Wars Episode 7 is targeted for release in 2015
Below is the entire press release. Fingers crossed for the best.
An investor conference call will
take place at approximately 4:30 p.m. EDT / 1:30 p.m. PDT today, October
30, 2012. Details for the call are listed in the release.
Global
leader in high-quality family entertainment agrees to acquire
world-renowned Lucasfilm Ltd, including legendary STAR WARS franchise.
Acquisition continues Disney's strategic focus on
creating and monetizing the world's best branded content, innovative
technology and global growth to drive long-term shareholder value.
Lucasfilm to join company's global portfolio of world class brands including Disney, ESPN, Pixar, Marvel and ABC.
STAR WARS: EPISODE 7 feature film targeted for release in 2015.
Burbank, CA and San Francisco, CA, October 30, 2012 –
Continuing its strategy of delivering exceptional creative content to
audiences around the world, The Walt Disney Company (NYSE: DIS) has
agreed to acquire Lucasfilm Ltd. in a stock and cash transaction.
Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas.
Under the terms of the agreement and based on the closing price of
Disney stock on October 26, 2012, the transaction value is $4.05
billion, with Disney paying approximately half of the consideration in
cash and issuing approximately 40 million shares at closing. The final
consideration will be subject to customary post-closing balance sheet
adjustments.
"Lucasfilm reflects the extraordinary passion, vision, and
storytelling of its founder, George Lucas," said Robert A. Iger,
Chairman and Chief Executive Officer of The Walt Disney Company. "This
transaction combines a world-class portfolio of content including
Star Wars, one
of the greatest family entertainment franchises of all time, with
Disney's unique and unparalleled creativity across multiple platforms,
businesses, and markets to generate sustained growth and drive
significant long-term value."
"For the past 35 years, one of my greatest pleasures has been to see
Star Wars
passed from one generation to the next," said George Lucas, Chairman
and Chief Executive Officer of Lucasfilm. "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."
Under the deal, Disney will acquire ownership of Lucasfilm, a leader
in entertainment, innovation and technology, including its massively
popular and "evergreen"
Star Wars franchise and its operating
businesses in live action film production, consumer products, animation,
visual effects, and audio post production. Disney will also acquire
the substantial portfolio of cutting-edge entertainment technologies
that have kept audiences enthralled for many years. Lucasfilm,
headquartered in San Francisco, operates under the names Lucasfilm Ltd.,
LucasArts, Industrial Light & Magic, and Skywalker Sound, and the
present intent is for Lucasfilm employees to remain in their current
locations.
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 maximize the value of this global franchise. Ms.
Kennedy will serve as executive producer on new
Star Wars feature films, with George Lucas serving as creative consultant.
Star Wars Episode 7 is targeted for release in 2015, with more feature films expected to continue the
Star Wars saga and grow the franchise well into the future.
The acquisition combines two highly compatible family entertainment
brands, and strengthens the long-standing beneficial relationship
between them that already includes successful integration of
Star Wars content into Disney theme parks in Anaheim, Orlando, Paris and Tokyo.
Driven by a tremendously talented creative team, Lucasfilm's legendary
Star Wars
franchise has flourished for more than 35 years, and offers a virtually
limitless universe of characters and stories to drive continued feature
film releases and franchise growth over the long term.
Star Wars
resonates with consumers around the world and creates extensive
opportunities for Disney to deliver the content across its diverse
portfolio of businesses including movies, television, consumer products,
games and theme parks.
Star Wars feature films have earned a total of $4.4 billion in global box to date, and continued global demand has made
Star Wars
one of the world's top product brands, and Lucasfilm a leading product
licensor in the United States in 2011. The franchise provides a
sustainable source of high quality, branded content with global appeal
and is well suited for new business models including digital platforms,
putting the acquisition in strong alignment with Disney's strategic
priorities for continued long-term growth.
The Lucasfilm acquisition follows Disney's very successful
acquisitions of Pixar and Marvel, which demonstrated the company's
unique ability to fully develop and expand the financial potential of
high quality creative content with compelling characters and
storytelling through the application of innovative technology and
multiplatform distribution on a truly global basis to create maximum
value. Adding Lucasfilm to Disney's portfolio of world class brands
significantly enhances the company's ability to serve consumers with a
broad variety of the world's highest-quality content and to create
additional long-term value for our shareholders.
The Boards of Directors of Disney and Lucasfilm have approved the
transaction, which is subject to clearance under the Hart-Scott-Rodino
Antitrust Improvements Act, certain non-United States merger control
regulations, and other customary closing conditions. The agreement has
been approved by the sole shareholder of Lucasfilm.
Note: Additional information and comments from Robert A. Iger,
chairman and CEO, The Walt Disney Company, and Jay Rasulo, senior
executive vice president and CFO, The Walt Disney Company, regarding
Disney's acquisition of Lucasfilm, are attached.
Investor Conference Call:
An investor conference call will take place at approximately 4:30
p.m. EDT / 1:30 p.m. PDT today, October 30, 2012. To listen to the
Webcast, turn your browser to
/investors/events
or dial in domestically at (888) 771-4371 or internationally at (847)
585-4405. For both dial-in numbers, the participant pass code is
33674546.
The discussion will be available via replay on the Disney Investor
Relations website through November 13, 2012 at 5:00 PM EST/2:00 PM PST.
About The Walt Disney Company
The Walt Disney Company, together with its subsidiaries and
affiliates, is a leading diversified international family entertainment
and media enterprise with five business segments: media networks, parks
and resorts, studio entertainment, interactive media, and consumer
products. Disney is a Dow 30 company with revenues of over $40 billion
in its Fiscal Year 2011.
About Lucasfilm Ltd.
Founded by George Lucas in 1971, Lucasfilm is a privately held,
fully-integrated entertainment company. In addition to its
motion-picture and television production operations, the company's
global activities include Industrial Light & Magic and Skywalker
Sound, serving the digital needs of the entertainment industry for
visual-effects and audio post-production; LucasArts, a leading developer
and publisher of interactive entertainment software worldwide; Lucas
Licensing, which manages the global merchandising activities for
Lucasfilm's entertainment properties; Lucasfilm Animation; and Lucas
Online creates Internet-based content for Lucasfilm's entertainment
properties and businesses. Additionally, Lucasfilm Singapore, produces
digital animated content for film and television, as well as visual
effects for feature films and multi-platform games. Lucasfilm Ltd. is
headquartered in San Francisco, California.