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DISNEY FINALIZES PURCHASE OF LUCAS FILMS & STAR WARS

DISNEY FINALIZES PURCHASE OF LUCAS FILMS & STAR WARS
It was reported a couple weeks back that legendary director George Lucas sold his Lucas Films and Star Wars imprint to Walt Disney for an impressive four billion dollars. Yesterday, the purchase of this property was finalized. Disney shares were priced at $50 a pop after the merger that was originally announced on October 30th. With the purchase, Disney announced they would be creating a new Star Wars sequel trilogy. In an official press release from Disney/Lucas Films, it states: BURBANK, Calif., December 21, 2012 – Continuing its strategy of delivering exceptional creative content to audiences around the world, Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company (NYSE:DIS) announced today that Disney has completed its acquisition of Lucasfilm Ltd. LLC. “We’re thrilled to welcome Lucasfilm to the Disney family,” said Iger. “Star Wars is one of the greatest family entertainment franchises of all time and this transaction combines that world class content with Disney’s unique and unparalleled creativity across multiple platforms, businesses, and markets, which we believe will generate growth as well as significant long-term value.” Under the terms of the merger agreement, at closing Disney issued 37,076,679 shares and made a cash payment of $2,208,199,950. Based upon the closing price of Disney shares on December 21, 2012 at $50.00, the transaction has a total value of approximately $4.06 billion. Lucasfilm’s assets include its massively popular Star Wars franchise, operating businesses in live action film production, consumer products, animation, visual effects, and audio post production, as well as a substantial portfolio of cutting-edge entertainment technologies. It operates under the names Lucasfilm Ltd. LLC, LucasArts, Industrial Light & Magic, and Skywalker Sound.