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Disney buys Star Wars – more movies to come

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In a move that will shake up the entertainment industry, the Walt Disney Company has paid George Lucas $4-billion for the Star Wars franchise – and he will make new episodes. Here is the statement issued last night.

The Walt Disney Company has agreed to acquire Lucasfilm in a stock and cash transaction. Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas.

Under the terms of the agreement and based on the closing price of Disney stock on October 26, 2012, the transaction value is $4.05 billion, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing. The final consideration will be subject to customary post-closing balance sheet adjustments.

‚”Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas,‚” said Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company. ‚”This transaction 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 across multiple platforms, businesses, and markets to generate sustained growth and drive significant long-term value.‚”

‚”For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next,‚” said George Lucas, Chairman and Chief Executive Officer of Lucasfilm. ‚”It’s now time for me to pass Star Wars on to a new generation of filmmakers. 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.‚”

Under the deal, Disney will acquire ownership of Lucasfilm, a leader in entertainment, innovation and technology, including its massively popular and ‚”evergreen‚” Star Wars franchise and its operating businesses in live action film production, consumer products, animation, visual effects, and audio postproduction. Disney will also acquire the substantial portfolio of cutting-edge entertainment technologies that have kept audiences enthralled for many years. Lucasfilm, headquartered in San Francisco, operates under the names Lucasfilm Ltd., LucasArts, Industrial Light & Magic, and Skywalker Sound, and the present intent is for Lucasfilm employees to remain in their current locations.

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.

The acquisition combines two highly compatible family entertainment brands, and strengthens the long-standing beneficial relationship between them that already includes successful integration of Star Wars content into Disney theme parks in Anaheim, Orlando, Paris and Tokyo.

Driven by a tremendously talented creative team, Lucasfilm’s legendary Star Wars franchise has flourished for more than 35 years, and offers a virtually limitless universe of characters and stories to drive continued feature film releases and franchise growth over the long term. Star Wars resonates with consumers around the world and creates extensive opportunities for Disney to deliver the content across its diverse portfolio of businesses including movies, television, consumer products, games and theme parks. Star Wars feature films have earned a total of $4.4 billion in global box to date, and continued global demand has made Star Wars one of the world’s top product brands, and Lucasfilm a leading product licensor in the United States in 2011. The franchise provides a sustainable source of high quality, branded content with global appeal and is well suited for new business models including digital platforms, putting the acquisition in strong alignment with Disney’s strategic priorities for continued long-term growth.

The Lucasfilm acquisition follows Disney’s very successful acquisitions of Pixar and Marvel, which demonstrated the company’s unique ability to fully develop and expand the financial potential of high quality creative content with compelling characters and storytelling through the application of innovative technology and multiplatform distribution on a truly global basis to create maximum value. Adding Lucasfilm to Disney’s portfolio of world class brands significantly enhances the company’s ability to serve consumers with a broad variety of the world’s highest-quality content and to create additional long-term value for our shareholders.

The Boards of Directors of Disney and Lucasfilm have approved the transaction, which is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, certain non-United States merger control regulations, and other customary closing conditions. The agreement has been approved by the sole shareholder of Lucasfilm.

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Arts and Entertainment

Timberlake to headline iTunes London festival

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Apple has announced that Justin Timberlake, Thirty Seconds to Mars, Jack Johnson and Jessie J are among the headliners at this year’s iTunes Festival in London.

Running every night in September at the Roundhouse, the iTunes Festival features more than 60 acts performing at the legendary venue.

Performances can be watched live or on-demand by millions of iOS users around the world on their iPhone, iPad or iPod touch, as well as by music fans with iTunes on their computer or in stunning HD with Apple TV. Tickets are free for competition winners only.

Music fans from across the world, including the US, Australia, Brazil, Canada, Europe, Japan and Mexico can win tickets to the iTunes Festival through competitions run by local media partners. In the UK, fans can win tickets using the iTunes Festival app and the iTunes Store as well as select media partners including Channel 4, Global Radio and Metro.

Sir Paul McCartney, Amy Winehouse and Crowded House played the first iTunes Festival at London’s Institute of Contemporary Arts in 2007. Since then over 370 artists have performed in front of more than 370,000 fans and tens of millions more online and on television. Other performers have included Adele, Coldplay, Foo Fighters, Alicia Keys, Paul Simon, Jack White and Oasis. Performances are available for purchase and download on the iTunes Store.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.

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New PS games ready for download

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Sony has announced its June line-up for PlayStation Plus subscribers, including Kingdoms of Amalur: Reckoning, and two new catalogue releases, Demon’s Souls and ICO and Shadow of the Colossus HD Collection.

Immerse yourself in the ancient world of Amalur and its 10,000 years of magical history in the action-packed tale Kingdoms of Amalur: Reckoning, created by acclaimed New York Times bestselling author R.A. Salvatore. Take destiny into your own hands as you combat your way through this vast and vibrant world as envisioned by the visionary creator of Spawn and much-admired artist, Todd McFarlane.

In Demon’s Souls you are summoned by a mysterious maiden as the last hope for humanity to take on a mighty demon horde that has taken over the kingdom of Boletaria, after a terrible curse was mistakenly unleashed by King Allant the XII whilst in search of greater powers. Prepare for a battle that has so far defeated all other realm champions as you set out on this epic journey to save the Kingdom from a fate worse than death.

ICO and Shadow of the Colossus HD Collection brings two exciting worlds to PS Plus ready for fans to explore. Adopt the role of ICO, a young boy who finds himself imprisoned by the people of his village inside the walls of a menacing castle before joining forces with a young girl named Yorda as she attempts to escape in ICO. Take on the role of a young man named Wander in Shadow of the Colossus as you journey through an enchanted land, battling 16 enormous beasts known as the Colossi in order to restore the life of a girl named Mono, whose soul is trapped in this haunting world.

For gamer’s on-the-go, grab your PlayStation Vita (PS Vita) and transport yourself to lush forests in the cartoon-quality action title Rayman Origins. Alternatively, weave through airborne mazes as you avoid falling coconuts in Coconut Dodge HD, both available on PS Plus from 5th June.

PS Plus provides subscribers with access to top-rated games on PS3 and PS Vita, extending the service to two platforms for a single price for a one-year subscription. Additionally, 90 day subscriptions are also available giving user’s access to the same fantastic titles and great PlayStation Store discounts.

PS Plus subscribers receive an array of exclusive features, including 2GB cloud storage (1G for PS3 & 1G for PS Vita) for game saves. Automatic updates and beta access, as well as a huge collection of exclusive dynamic themes and PlayStation Network avatars, makes PS Plus the place to be in 2013.

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