LOS ANGELES (AP) – Disney is paying $4.05 billion to buy Lucasfilm Ltd., the production company behind “Star Wars,” from its chairman and founder, George Lucas.
It’s also making a seventh movie in the “Star Wars” series called “Episode 7,” set for release in 2015, with plans to follow it with Episodes 8 and 9 and then one new movie every two or three years.READ MORE: Homeless Services Head Steven Banks Defends NYC's Process Of Getting Vulnerable People Off The Streets
The Walt Disney Co. announced the agreement to make the purchase in cash and stock Tuesday.
The deal brings Lucasfilm under the Disney banner with other brands including Pixar, Marvel, ESPN and ABC.READ MORE: Times Square Shooting: Hero Officer Alyssa Vogel Speaks About Rescuing 4-Year-Old Gunshot Victim
Kathleen Kennedy, the current co-chairman of Lucasfilm, will become its president and report to Walt Disney Studios Chairman Alan Horn. Lucas will be creative consultant on new “Star Wars” films.
Lucas said in a statement, “It’s now time for me to pass ‘Star Wars’ on to a new generation of filmmakers.”MORE NEWS: Massive Swarm Of Honeybees In Hive On Nassau County-Owned Property Is Testing Patience Of Nearby Homeowners
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