Disney have announced that they acquired Lucusfilm Ltd for $4.05 billion in cash and shares and will join there already huge portfolio of brands including Disney, Pixar, ESPN, Marvel and ABC.

Alongside it they also announced that Star Wars: Episode 7 for release in 2015, Robert A. iger the Chairman and Chief Executive Officer of The Walt Disney Company said the following about the acquisition:

““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.”

Under the new deal, Disney will now take ownership of Lucasfilm alongside their portfolio of entertainment technologies.

The current Co-Chairman of Lucasfilm, Kathleen Kennedy will become the President of the company reporting to Walt Disney Studios Chairman Alan Horn, she will also serve as brand manager for Star Wars and executive producer for future releases.

George Lucas will also still be involved in the company as Creative Consultant

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