Yesterday, The Walt Disney Company announced its agreement to acquire Lucasfilm Ltd., the company owned by George Lucas that is known for Star Wars and Indiana Jones.ย Under the deal, Disney will acquire ownership of Lucasfilm, a leader in entertainment, innovation and technology, and LucasArts, Industrial Light & Magic, and Skywalker Sound –ย operating businesses in live action film production, consumer products, animation, visual effects, and audio post production.

For the past 35 years, one of my greatest pleasures has been to seeย Star Warsย passed from one generation to the next. It’s now time for me to passย Star Warsย on to a new generation of filmmakers. I’ve always believed thatย Star Warsย could live beyond me, and I thought it was important to set up the transition during my lifetime. –ย George Lucas, Chairman and Chief Executive Officer of Lucasfilm

The Walt Disney Company and Lucasfilm have had a long-standing relationship that had previously integrated Star Warsย into the Walt Disney Worldยฎย Resort, theย Disneylandยฎย Resort,ย Disneylandยฎ Paris, and Tokyo Disneyยฎ Resort. Thisย acquisitionย will not only increase the presence of Star Wars within the Disney Parks, but The Walt Disney Company has already announced the making of Star Wars Episode 7 in which George Lucas will serve as creative consultant.ย Star Warsย Episode 7ย is targeted for release in 2015, with more feature films expected to continue theย Star Warsย saga and grow the franchise well into the future.