George Lucas sells Lucasfilm studio to Disney for $4 billion

Star Warsdirector George Lucas's film company is being bought by Walt Disney Co for $4 billion with an aim to revive the classic sci-fi series, according to sources. The production house will start with a new trilogy in the legendary franchise in 2015. About the deal, Lucas said it was "time for me to pass Star Wars on to a new generation of filmmakers." Disney announced, "Star Wars 7will be released in 2015 and more feature films expected to continue theStar Warssaga”.

Disney said it planned a new trilogy with films eight and nine, after which moreStar Warsmovies would be made every two to three years. Disney chief Robert Iger informed, “The deal combines a world-class portfolio of content includingStar Wars, one of the greatest family entertainment franchises of all time, with Disney's unique and unparalleled creativity"."Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas," Iger added.