In a shocking merger announced on Tuesday, The Walt Disney Co. purchased Lucasfilm.
Lucasfilm, which has produced the wildly successful Star Wars franchise, sold the company to Disney for $4.05 billion in cash and stock shares. Disney will take control of all of Lucasfilms’ operating businesses including: “Industrial Light and Magic” and “Skywalker Sound”.
Creator and Director George Lucas spoke about the merger in a press release.
“It’s now time for me to pass Star Wars on to a new generation of filmmakers,” Lucas said. “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.”
Lucas has handed over leadership of the company to Co-Chairman Kathleen Kennedy who will become President of Lucasfilm as well as the brand manager for Star Wars.
Kennedy will serve as Executive Producer for the production of Star Wars Episode VII, which Disney hopes to release by 2015. More films are set to follow which will expand the Star Wars franchise for generations to come.
Fans of the original franchise can take solace in the fact that Lucas will serve as Creative Consultant for the seventh installment of the series. Beyond that, it is uncertain what role Lucas will play in the production of future films.
In a video press release, Lucas stated that both he and Kennedy are working on treatments for Episodes: VII, VIII, and IX of the Star Wars saga. Lucas has ended the story arc at Episode IX.
Disney has a history of acquiring a successful franchise and making it even more profitable. It’s past acquisitions include Pixar and Marvel, both of which still continue to thrive. According to a study done by RottenTomatoes.com, movies featuring Marvel characters have seen a rise in audience ratings from 61 percent to 76 percent after Disney had purchased the company.
Robert Iger, Chairman and Chief Executive Officer of The Walt Disney Co., said Star Wars fans should expect much more to come.
“There will be more feature films as well as consumer products, television projects, games, and theme park attractions,” said Iger in a video press release.
News of this merger is likely to produce mixed emotions from the Star Wars fan base.
The original three Star Wars films, which consisted of Episodes IV through VI were first released in 1977. These first three are often deemed superior to episodes I through III which were released from 1999 to 2005. Since then there has been an ongoing debate in the Star Wars community concerning which trilogy is better.
After this merger there is likely to be an even deeper division among fans. Viewers have been under the impression that the saga was over after the release of “Episode III: Revenge of the Sith” in 2005. With news of more movies to come, many people might feel like the new films cannot live up to the trilogies they grew up with.
Ken Windrum of the Department of Visual and Applied Arts at Moorpark College, said
he prefers the original trilogy and that Star Wars episode 7 could go either way.
“It’s hard to say, I don’t have much faith is George Lucas as a director,” said Windrum. “Best if he stuck to producing and let Speilberg direct them, then you’d have the best of both worlds”
Then there are the younger fans who enjoy the newer stories like the animated series “The Clone Wars”. This group will be more excited about the Disney merger and the new movies that will be a part of their own childhood.
Weather its themes of morality, heroism, love, friendship, or conquering evil, both the older and younger generations can identify with Star Wars. This shared love of the saga brings families together as parents continue to sit down with their children and watch the films that were such a big part of their youth.
Though reactions will differ among the Star Wars fan base, It will be interesting to see what direction Lucasfilm will take under its new ownership.
Lucas is optimistic about the future of the franchise and says there isn’t any shortage of story ideas.
“We have a large group of ideas and characters and books and all kinds of things,” said Lucas. “We can go on making Star Wars for the next hundred years.”
Future generations would be fortunate to be a part of the unique and innovative culture that is Star Wars.
