The purchase of Lucasfilm by the Walt Disney Company is now complete. Prepare for movies!
Announced on Halloween, the purchase of Lucasfilm by Disney has already received approval from the Federal Trade Commission (FTC) faster than you can say “jump to light speed.” Thanks to a higher than expected price for shares of Disney, the purchase price ended up closing out at $4.06 billion, just slightly ahead of the originally announced $4.05 billion.
Disney is wasting no time in trying to earn back that chunk of change. According to a report from Blue Sky Disney, the Star Wars comic books will start coming to Marvel as of 2015. Dark Horse Comics has been publishing titles in the famous universe since 1991, but according to sources, no new contracts will be awarded to them after 2013, and the titles will instead go to Marvel which Disney purchased a few years ago.
Why does this line spoken by Darth Vader in Star Wars Episode IV: A New Hope come to mind? “The circle is now complete. When I left you, I was but the learner; now I am the master.”
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.