How much did George Lucas sell Star Wars for? When did Disney buy Lucasfilm?
George Lucas launched the successful Star Wars franchise in 1977, and 36 years later, he decided it was time to sell it and move on to other pursuits.
Star Wars has grown to become one of the most successful movie franchises in history since the first film premiered in 1977, but it is now run by the Walt Disney Company after its creator, George Lucas, decided to sell it.
How much did George Lucas sell Star Wars for?
On October 30, 2012, Disney acquired Lucasfilm, the production company founded by George Lucas, for a reported $4.05 billion. This deal granted Disney the rights to all existing Star Wars films and the rights to create new movies, TV shows, and other merchandise based on the brand. Additionally, the agreement included Lucasfilm’s other properties, such as the Indiana Jones franchise and Industrial Light & Magic, the visual effects company that Lucas founded.
Since Disney’s acquisition, numerous new Star Wars films, TV shows, theme park attractions, and other forms of entertainment have been released.
Why did George Lucas sell the Star Wars franchise?
Lucas said he decided to let go of his creation because he believed it was time to pass the baton to a new generation of filmmakers.
Speaking to the New York Times, Lucas said, “I’m doing this so that the films will have a longer life, so that more fans and people can enjoy them in the future.” He said he believed that Disney was the right company to sell the company to, as they had both the resources and the expertise to continue and expand the saga of the Star Wars universe.
However, Lucas was not just thinking about the franchise’s survival, he was also considering his own. He said the the process of creating the Star Wars movies had become stressful and that he was prepared to step back and focus on other things such as being with his family.