By Ray Pride Pride@moviecitynews.com

The Walt Disney Company Completes Lucasfilm Acquisition

Deal expected to strengthen Disney’s position as a leading global provider of high-quality branded entertainment and build long-term shareholder value

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.

Forward-Looking Statements:

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements relate to the expected benefits of the integration of Disney and Lucasfilm; the combined company’s plans, objectives, expectations and intentions and other matters that are not historical fact. These statements are made on the basis of the current beliefs, expectations and assumptions of the management of Disney regarding future events and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. Disney does not undertake any obligation to update or revise these statements, whether as a result of new information, future events or otherwise.

Actual results may differ materially from those expressed or implied. Such differences may result from a variety of factors, including but not limited to developments beyond the Disney’s control, including but not limited to: changes in domestic or global economic conditions, competitive conditions and consumer preferences; adverse weather conditions or natural disasters; health concerns; international, political or military developments; and technological developments. Additional factors that may cause results to differ materially from those described in the forward-looking statements are set forth in the Annual Report on Form 10-K of Disney for the year ended September 29, 2012, under the heading “Item 1A—Risk Factors,” and in subsequent reports on Form 8-K and other filings made with the SEC by Disney.

2 Responses to “The Walt Disney Company Completes Lucasfilm Acquisition”

  1. Brad says:

    I wonder when they will break ground for the Star Wars theme park in Florida.

  2. Sam says:

    What movies will they be coming up with?

    Song of the Sith?

    Herbie goes to Endor?

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DEADLINE: How does a visualist feel about people watching your films on a phone or VOD?
REFN: It depends on what kind of movie you make. We had great success with Only God Forgives on multiple platforms in the U.S. Young people will decide how they see it, when they want to see it. Don’t try to fight it. Embrace it. That’s a wonderful opportunity. We’re at the most exciting time since the invention of the wheel, in terms of creativity because distribution and accessibility have changed everything. A camera is still a camera whether it’s digital or not; there’s still sound; an actor is an actor. Ninety-nine percent of what you do is going to be seen on a smart phone – I know this is the greatest thing ever made because it allows people to choose, watching what you do on this format or go into a theater and see it on a screen. That means more people than ever will see what I do, which is personally satisfying in terms of vanity. But you have to be able to adapt, to accept things in different order and length than we’re used to. We are in a very, very exciting time.
~ Nic Refn to Jen Yamato

DEADLINE: You mention Tarantino, who with Christopher Nolan and a few other giants, saved film stock from extinction. To him, showing a digital film in a theater is the equivalent of watching TV in public. Make an argument for why digital is a good film making canvas.
REFN: Costwise, it’s a very effective way for young people to start making movies. You can make your movie on an iPhone. It’s wonderful seeing how my own children use technology to enhance creativity. For me it’s a wonderful canvas. Sure, I love grain in film. I love celluloid. But I also like creativity. I like crayons, I like pencils, I like paint. It’s all relative. Technology is more inclusive. A hundred years ago when film was invented, it was an elitist club. Very few people got to make it, very few people controlled it and very few people owned it. A hundred years later, storytelling through images is everyone’s domain. It’s ultimate capitalism. There are no rules, and no barriers and no Hays Code. Where does this go in another hundred years? I don’t know but I would love to see it.
~ Nic Refn To Jen Yamato