Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Walt Disney To Buy Lucasfilm For $4.05 Bln - Quick Facts

RELATED NEWS
Trade DIS now with 

Walt Disney Co. (DIS: Quote) said Tuesday that it has agreed to acquire Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas.

As per 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 about half of the consideration in cash and issuing approximately 40 million shares at closing.

Under the deal, Disney will acquire ownership of Lucasfilm, including its massively popular and "evergreen" Star Wars franchise and its operating businesses in live action film production, consumer products, animation, visual effects, and audio post production.

Disney noted that it will also acquire the substantial portfolio of cutting-edge entertainment technologies that have kept audiences enthralled for many years.

Lucasfilm, headquartered in San Francisco, operates under the names Lucasfilm Ltd., LucasArts, Industrial Light & Magic, and Skywalker Sound, and the present intent is for Lucasfilm employees to remain in their current locations, Disney said.

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.

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.

The Boards of Directors of Disney and Lucasfilm have approved the transaction, which is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, certain non-United States merger control regulations, and other customary closing conditions. The agreement has been approved by the sole shareholder of Lucasfilm.

Register
To receive FREE breaking news email alerts for Walt Disney Co and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Less than a month after resigning from Congress, former House Majority Leader Eric Cantor, R-Virg., has made the move from Washington to Wall Street by joining boutique investment bank Moelis & Co. A statement from Moelis said Cantor will serve as Vice Chairman and Managing Director and also be elected to the company's Board of Directors. Stocks continue to show a lack of direction in mid-day trading on Tuesday following the long, holiday weekend. Even with the lackluster performance, the markets are largely holding on to the bulk of their recent gains. After reporting an unexpected drop in U.S. construction spending in the previous month, the Commerce Department released a report on Tuesday showing that construction spending rebounded by more than expected in the month of July.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.