Disney Acquires Lucasfilm, Announces 'Star Wars' Episode 7

Walt Disney PR:

Under the terms of the agreement and based on the closing price of Disney stock on October 26, 2012, the transaction value is $4.05 billion, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing. The final consideration will be subject to customary post-closing balance sheet adjustments.

Kathleen Kennedy, current Co-Chairman of Lucasfilm, will become President of Lucasfilm, reporting to Walt Disney Studios Chairman Alan Horn. Additionally she will serve as the brand manager for Star Wars, working directly with Disney's global lines of business to build, further integrate, and maximize the value of this global franchise. Ms. Kennedy will serve as executive producer on new Star Wars feature films, with George Lucas serving as creative consultant. Star Wars Episode 7 is targeted for release in 2015, with more feature films expected to continue the Star Wars saga and grow the franchise well into the future.

Continuing a breathless period of news, I don't think anyone quite expected Disney to make this announcement yesterday afternoon.

Speaking from a purely business perspective, Disney now owns ABC, ESPN, Marvel, Lucasfilm, and Pixar. Or, in other words, a property for virtually every demographic of media consumer. Certainly no small feat whatsoever.

Never have I seen Twitter devolve into such unabashed nerdery as I did yesterday. Whether it was talk of Scott Forstall, iPad Mini reviews, the delay of iTunes 11, Star Wars, or belated reflections on Hurricane Sandy, the Internet was abuzz with pure exhiliration.

More than anything else, that's a really fun thing to be a part of and, as we're on the cusp of this site's one year birthday, it serves as an apt reminder of why I started this site in the first place.