LucasArts Purchased by Disney for $4.05 Billion. New Star Wars Movies?

This press release outlines the details of Walt Disney's purchase of Lucasfilm for $4.05 Billion dollars. The details of this transaction includes LucasArts, Industrial Light & Magic & Skywalker Sound and the rights to an untold amount of video games and licensing agreements that will suddenly come under question in a very trouble time for the video game market. 

With this merger, Disney Entertainment, who also owns Marvel, Universal, ESPN, Pixar, and a huge number of Intellectual Properties, now gains the ability to do with the franchse as they like. The first move from Disney is to announce that Star Wars: Episode 7 is scheduled for releease in 2015. 

The press release states: 

Kathleen Kennedy, current Co-Chairman of Lucasfilm, will become President of Lucasfilm, reporting to Walt Disney Studios Chairman Alan Horn. Additionally she will serve as the brand manager for Star Wars, working directly with Disney's global lines of business to build, further integrate, and maximize the value of this global franchise. Ms. Kennedy will serve as executive producer on new Star Wars feature films, with George Lucas serving as creative consultant. Star Wars Episode 7 is targeted for release in 2015, with more feature films expected to continue the Star Wars saga and grow the franchise well into the future.

George Lucas, the villain or hero in your life depending on how you felt about Star Wars after the Prequels, stated that: 

“I’ve always believed that Star Wars could live beyond me, and I thought it was important to set up the transition during my lifetime. I’m confident that with Lucasfilm under the leadership of Kathleen Kennedy, and having a new home within the Disney organization, Star Wars will certainly live on and flourish for many generations to come. Disney’s reach and experience give Lucasfilm the opportunity to blaze new trails in film, television, interactive media, theme parks, live entertainment, and consumer products.”

Perhaps Star Wars, now excised of Lucas' control, can regain some modicum of what made the original series so interesting. I suppose the hope or dismay one feels about this may be tied to Tron.