Tuesday, October 30, 2012

Disney Buying Lucas Films for $4 Billion

LOS ANGELES - The Walt Disney Company, in a move that gives it a commanding position in the fantasy world of film, said Tuesday it had agreed to acquire Lucasfilm Ltd. from its founder, George Lucas, for $4.05 billion in stock and cash.

The sale provides a corporate home for a private company that grew from Mr. Lucas's hugely successful “Star Wars” series, and became an enduring force in creating effects-driven science fiction entertainment for large and small screens. Mr. Lucas, who is 68 years old, had already announced he would step down from day-to-day operation of the company.

Combined with the purchase of Marvel Entertainment for $4 billion in 2009 and of Pixar Animation Studios for $7.4 billion in 2006, the acquisition also guarantees the legacy of Robert A. Iger, Disney's chief executive, as a builder who aggressively expanded the company since taking charge in 2005.

Mr. Iger is set to step down as chief executive in March of 2015, but will re main with Disney in a lesser role under an employment deal he reached with Disney last year.

Like the Marvel acquisition, the Lucasfilm deal appears to have caught Hollywood and Wall Street by surprise. It was announced on Tuesday afternoon, while the New York Stock Exchange was closed by storm damage, though investors were scheduled for a briefing on the acquisition in a conference call set for late Tuesday afternoon.



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