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Disney Reportedly Halts Game Development At Lucasfilm Division

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4/3/2013 11:45 PM ET

Entertainment giant Walt Disney Co. (DIS: Quote) has decided to halt video game development at its Lucasfilm division, reports said Wednesday.

The business was acquired by Disney last year from its founder director George Lucas for about $4 billion. The latest decision is part of the company's efforts to cut costs.

The company's video game unit LucasArts, established in 1982, will now focus on a licensing model instead of internal development. The unit's catalog included "Lego Star Wars" and "Star Wars Battlefront."

Disney expects this change to minimize the company's risk ''while achieving a broader portfolio of quality 'Star Wars' games.''

The number of jobs being affected are not known. The company employs over 1,800 staff. However, according to a report, around 150 employees have been laid off and current projects have been abandoned.

DIS closed down 0.4 percent at $57.25 on Tuesday.

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by RTT Staff Writer

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