Disney buys Lucasfilm, plans new Star Wars film

By Hindustan Times

Entertainment giant Walt Disney Co is to buy director George Lucas's world-renowned Lucasfilm Ltd, including his legendary Star Wars franchise, for some $4 billion, it announced Tuesday.

A new movie in the series, Star Wars 7, is set for release in 2015 "with more feature films expected to continue the Star Wars saga and grow the franchise well into the future," said a Disney statement.

The deal "combines a world-class portfolio of content including Star Wars, one of the greatest family entertainment franchises of all time, with Disney's unique and unparalleled creativity," said Disney chief Robert Iger.

The transaction is valued at $4.05 billion -- based on current stock value -- with Disney paying about half in cash and issuing approximately 40 million shares at