Disney Completes Lucasfilm Acquisition For $4.06B
BURBANK (CBS/AP) — Disney says it has completed its acquisition of Lucasfilm Ltd. for $4.06 billion in cash and stock.
The company said Friday that it issued 37.1 million shares and made a cash payment of $2.21 billion to buy the maker of "Star Wars" from its sole owner, George Lucas.
"We're thrilled to welcome Lucasfilm to the Disney family," Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company, said.
"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," said Iger.
The total transaction value was based on Friday's closing price of $50 for Disney shares.
The deal includes special effects giant Industrial Light & Magic, video game maker LucasArts and sound studio Skywalker Sound.
The Walt Disney Co. has said it will revive the "Star Wars" franchise beginning with "Episode 7" in 2015. The company announced its planned purchase of Lucasfilm in October.
(TM and © Copyright 2012 CBS Local Media, a division of CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
