Disney to Buy Lucasfilm for $4 Billion
In a consolidation of entertainment giants, the Walt Disney Company announced today it would buy Lucasfilm from founder and sole owner George Lucas for $4.05 billion in cash and stock. Kathleen Kennedy, current co-chairman of Lucasfilm, will become president of Lucasfilm, reporting to Walt Disney Studios Chairman Alan Horn. And Kennedy will serve as executive producer for “Star Wars Episode 7,” which is targeted for release in 2015 and for which Lucas will be creative consultant.
