Disney to Own Star Wars
By now everyone has heard the news, but just in case you have missed out you can read the press release in this Topless Robot post. I’m not even sure where to start. A new movie in 2015. Word of a new movie every two to three years after that. Lucas out. (But still in as a “Creative Consultant,” so his name can be associated with the films and the new director can ignore him.)
This is big news, and it’s likely to be years before we see exactly what Disney plans to do with their new toy. But things with the “Disney owns Marvel!” change have seemed to be going well, so there’s a good chance that Disney will do very great things with Star Wars. I know I’m very interested to see what they have in mind for new movies; will Disney ignore the “Expanded Universe,” or will they embrace it?
BURBANK, Calif. & SAN FRANCISCO–(BUSINESS WIRE)– Continuing its strategy of delivering exceptional creative content to audiences around the world, The Walt Disney Company (NYSE: DIS) has agreed to acquire Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas.
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.
Everyone has been calling me a doom sayer, but I just cannot see good coming of this. Disney has been trying so hard to create a memorable, multi-part film series to ape Lord of the Rings’ popularity (and failing at it) for so long, it seems like this is just them buying the rights to Star Wars for a guaranteed hit with a franchise that is already a household name. No one purchases a property like that and immediately announces three new movies (with more coming every two or three years)before the ink dries without the intention of squeezing as much cash from it as possible. All I can see is SW being made into a new Pirates, except with more sequels like Deadman’s Chest where absolutely nothing is resolved or moved forward in the plot and you’re required to come back in a year or two if you want to know how Captain Sparrowalker’s going to survive the space kraken.
Now, I don’t think Lucas has any more respect for his own creation at this point either (CGI Clone Wars is all I need to say) but at least he had the decency to say “No, we’re not doing that” whenever someone approached him about doing Episode VII.