How George Lucas made $4 billion yesterday

By Catholic Online (NEWS CONSORTIUM)
10/31/2012
Catholic Online (www.catholic.org)

Not a bad payday for the film genius.

George Lucas had a good day yesterday, earning $4 billion on a deal that converts the "Star Wars" franchise into a Disney operation. The deal will also bring a "Star Wars, Episode 7" to the big screen in 2015.

George Lucas has about 4 billion reasons to be happy.

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LOS ANGELES, CA (Catholic Online) - George Lucas, 68, said in a statement, "It's now time for me to pass 'Star Wars' on to a new generation of filmmakers."
The legendary filmmaker has transferred the Star Wars franchise and Lucasfilms, his production studio, to Disney. The deal nets Lucas stock and cash valued just over $4 billion.

Disney CEO Robert Iger issued his own statement saying, "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."

Lucas won't be abandoning his franchise however. Lucas is expected to stay on board as a project consultant.

As for the deal itself, it does require federal antitrust approval. Disney has bought out several smaller, popular media franchises such as Pixar and Marvel Entertainment.

Disney believes the "Star Wars, Episode 7" will bolster its 2015 earnings. Certainly, the addition of Lucasfilms and "Star Wars" improves the Disney portfolio.

In addition to acquiring Star Wars, the acquisition of Lucasfilms also brings Industrial Light & Magic, Skywalker Sound, and the Indiana Jones franchise to Disney.

As for George Lucas, he isn't speaking much about the private deal, but it is understandable that he should want to retire comfortably on the profits of his entertainment empire. With $4 billion to spend and annual revenues to boot, he should accomplish this task easily.

Without a doubt, the force is with Lucas as he closes his multi-billion dollar deal with Disney.

� 2012, Distributed by NEWS CONSORTIUM.

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Pope Benedict XVI's Prayer Intentions for January 2013
General Intention: The Faith of Christians. That in this Year of Faith Christians may deepen their knowledge of the mystery of Christ and witness joyfully to the gift of faith in him.
Missionary Intention: Middle Eastern Christians. That the Christian communities of the Middle East, often discriminated against, may receive from the Holy Spirit the strength of fidelity and perseverance.

Keywords: George Lucas, Star Wars, Disney, deal

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1 - 3 of 3 Comments

Rosalie
6 months ago
No, this is a very, VERY good move, especially on Lucas' part. Lets face the fact, he pretty much burned the Star Wars AND the Indiana Jones franchises to the ground. Weak plots, weaker acting for a mediocre attempt to rekindle the old spark of the original movies has failed fans miserably. Lucas has lost his touch, episodes I-III of star wars and the Kingdom of the Crystal Skull should be evidence of that (it's bad enough he did Kingdom of the Crystal Skull on Steven Spielberg's watch; he has always been the superior director in my opinion and I doubt hard-core Indy fans will be comfortable with him directing another because of Lucas). Disney makes very good movies (the Disney Channel does not count as a movie, so we'll let that garbage slide). It was they who helped reboot Marvel into creating the Avengers (the biggest and best super-hero movie of the year), as well as the new Muppet movie (also one of the top movies of the year). They have the money and the creativity to make the Star Wars franchise better than what Lucas has delivered this past decade (you really can't get any worse then Jar Jar Binks can you?). So don't worry, just because Disney is holding the reigns does not mean the franchise will be Mickey Moused to death. They are a smart company, and they know how to deliver successfully to the fans.
:)
6 months ago
Sigh. Disney used to make masterpieces...now they only make garbage.
LucasFilms was my only hope..
'Help me, LucasFilms..you're my only hope.'
Micky
6 months ago
Nooooo! Must Disney swallow everything? Aah, I'm just an old fuddy-duddy purist who wouldn't even go see episodes 1-3.
I sure would love for Mr. Lucas to donate some of that dough to our little Catholic school.

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