In a strategic move, The Walt Disney Company has announced the acquisition of Lucas Film Ltd through. In a detailed press release the announcement of the acquisition has been made by Disney. Lucas Film Ltd has been acquired through stock and transaction deal. The transaction value of the deal is $4.05 billion. George Lucas founder of Lucas Film Ltd owns 100% of his company.
Star War and Indian Jones Franchise is the prized acquisition of this deal as they fit in to the business model of Film and themes park perfectly. George Lucas said “”For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next,”. he added ”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.”
The transaction has been approved by board of the directors of Lucas Film and Disney.