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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“I don’t really believe in guilty pleasures. I like to subscribe to Susan Sontag’s thought of no highs and lows. I think dismissing popular culture and popular films can be really dangerous because they may seem innocuous, but some are works of art and even when they’re not they can say so much about the culture that they’re reflecting. This also gets into the idea of canon. What is good and isn’t good? Lately, I’ve been thinking a lot about that. Specifically, who writes these canons? Mainly, straight white guys — which basically rigs the system. So, if you have a knowledge of female filmmakers, queer filmmakers, African or Asian filmmakers, some people won’t give them the same culture capital. They’ll say, “Oh, that’s nice niche knowledge.” No, it’s not. You’re just seeing it through the prism of something white and male. Like Shonda Rhimes’ ‘Scandal.’ I love that show, but is it a guilty pleasure because it’s a soap on TV? No. I think it has incredible writing, incredible thought and characters, so we should take it seriously. That’s a long-winded answer to say, “Yes, I love Titanic.” I was 10 years old when it came out and my mom took me to see it three times. I was so obsessed with it. A big thanks to my mom who’ll never get those nine hours of her life back.”
~ Toronto Int’l Programmer and Critic Kiva Reardon

“A lot of us felt blindsided,” Van Vliet told me. In the seventies, Van Vliet was drafted out of film school by Industrial Light & Magic, where he worked on The Empire Strikes Back and Raiders of the Lost Ark. Now 62 and semi-retired, he said, “Once you get into your fifties, you’re pretty disposable.” Van Vliet was in the middle of reviewing DVD screeners before casting his Oscar votes, a process he estimated would take a hundred and twenty hours. “The Academy is essentially asking us to give them three weeks of labor, and then they’re going to take our results, put them into a ceremony, and sell it,” he said, referring to the seventy-five million dollars that the organization earns from the television broadcast. “Then they’re turning around and kicking us in the teeth.”
~ “Shakeup At The Oscars”