Disney buys Lucasfilms for $4 billion
On Oct. 30, Darth Vader and Han Solo met Mickey Mouse and Donald Duck as Disney purchased Lucasfilm, Ltd. Built by George Lucas, the creator of the Star Wars universe, Lucasfilm, Ltd. is comprised of the subsidiaries Industrial Light & Magic, Skywalker Sound and LucasArts, among others. Lucas was the single shareholder of the company and sold his share for $4.05 billion. Disney will be making half the purchase with cash and will be issuing 40 million shares of stocks. The deal transfers the rights of Lucasfilm, Ltd. to Disney, giving them the rights to both the Star Wars and Indiana Jones franchises.
Lucas released a video on the Star Wars website, explaining the future of Lucasfilm, Ltd. under Disney. “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,” said Lucas.
Lucas will focus more on personal movies and philanthropy; he will, however, stay on as a creative consultant for the films going forward. Kathleen Kennedy will take on the role of President of Lucasfilm, Ltd. and will report to Walt Disney Studios Chair, Alan Horn. All jobs underneath Kennedy are expected to stay the same and carry over to Disney. Also announced on Oct. 30, Disney plans to release “Star Wars Episode VII” in 2015.
Purchasing big companies is a continuing trend for Disney, as the company bought the comic book, and now film, juggernaut Marvel in 2009. “The Avengers” was a huge success and audiences will see its sequel release, along with “Star Wars Episode VII,” in 2015. Marvel has continued to succeed and grow under the new Disney mantle, just as Pixar has before it. But fans wonder how Star Wars will fair.
It is, after all, the fans that make Star Wars the phenomenon it has become. “Explosions, chase scenes, heroes, villains: Star Wars had it all, but it was different than what had come before,” PVCC professor John Gulley said of his Star Wars movie theater experience. Of course, not all fans share the same experience.
Some are casual or passive viewers, like PVCC student Aaron Harlan. “The second wave of movies came out [while I was] growing up, so I knew the franchise, I knew of the movies and the games, though it [has not] been a huge part of my life; I can’t reference all the characters or story lines,” he said. Harlan does not see a sign for much improvement to the films. “I think it will stay the same; it’s just another Disney purchase. It will be interesting.”
But to super fans, Star Wars, is not just interesting. “Star Wars is in a lot of ways my childhood,” said PVCC student Ben Rhodes. “Star Wars is a franchise that I’ve grown up with and has been a part of my life for forever.” Rhodes is a senior contributor for Fanboycomics.com and has seen many Star Wars-crazed fans on the show floor of Comic-Con.
PVCC student Michael Allers echoed the same sentiment. “Star Wars, simply, is the best example of a mega-successful franchise, and I would consider it the best of all time,” he added.
Many fans like Rhodes, Allers, and those from the convention floor are excited about Lucas’ less hands-on approach to the beloved franchise. “‘Empire Strikes Back’ is the one movie where George Lucas does not have a credit as screen writer or director; he was the most hands off on that movie,” said Rhodes of the fan-favorite film. Allers agrees, “The best thing to happen to Star Wars was to detach itself from Lucas, and hand it off to more creative, vigorous minds.” And some think these minds lie within Disney.
“[Disney is] the best company possible to take Star Wars into the future,” said Kathleen Kennedy.
Professor Gulley also gave his thoughts on the new business venture. “I am hopeful about the deal, and don’t have any major concerns. The worst case [scenario] is that future incarnations of the story would be geared for kids as a vehicle for selling toys and video games.”
Rhodes shared similar thoughts, “Though I don’t think that they are the best company out there, I believe they are the best fit.” However, he, like many fans, admits he is “terrified.”
