The Walt Disney Company, the largest media company in the world in terms of revenue, added yet another franchise to its ranks this October when it purchased the production company Lucasfilm Limited for $4.05 billion.
Shortly after the acquisition, Disney’s movie studio announced that Star Wars Episode VII would be scheduled for release in 2015.
Lucasfilm, founded in 1971 by George Lucas, is famous for the Star Wars series of movies and Indiana Jones series. Star Wars is the third highest grossing series of films in the world, behind the Harry Potter and James Bond series. Star Wars has made about $4.4 billion since the first movie was released in 1977.
By selling the company, Lucas is no longer in control of Lucasfilm but will continue to make an impact on projects the studio chooses to pursue.
In the deal he signed with Disney, Lucas received half of his $4.05 billion in cash while the other half was received in Disney stock, which makes Lucas a significant shareholder in the company.
In the past, Lucas has said the he would make no more Star Wars movies, and that after Episode VI, “that’s where that story ends.” Lucas has received much public scrutiny for his handling of the three most recent Star Wars movies as well as alterations to the original three movies. Some theorize that this is why Lucas wanted to be done with the franchise.
Disney has other plans for the pop culture phenomenon. Disney executives recognizes the potential and are planning on releasing not only one, but three more Star Wars movies in the years to come. The company also plans to tie in Star Wars characters with their already huge lineup of media icons.
This includes merchandising opportunities as well as Disney’s 14 theme parks worldwide. Also there are plans floating around for a television series.
Lucas has said that he “always believed that Star Wars could live beyond [him].” He has said that “it’s now time for [him] to pass Star Wars on to a new generation of filmmakers,” and that the series will receive new life through this process.
Currently, it has not been decided who will direct the next installment of the series, but that decision lies with Kathleen Kennedy, the former co-chairman of Lucasfilm, who is now the president of the division. Although Lucas is no longer involved in the business side of his company, he will remain as a creative consultant to the new film.
The movie is currently in the early development stage, meaning that it is just starting to come together. The film has yet to be written, but Kennedy and Lucas have already met with potential writers.
The stars of the original Star Wars trilogy: Harrison Ford, Mark Hamil and Carrie Fischer, have all said they are interested in reprising their roles in the upcoming film.
Although little information is known about the new film, it is known that the main characters who were in their 20’s and 30’s in Episode VI will be in their 60’s or 70’s in the next installment.
There are mixed feelings about the fate of Star Wars. Senior Jack Sams said he believes that “it will be like Prometheus was to the Alien movies: a disappointment to the originals.”
On the other hand, senior Jack Stephenson said, “[Episode VII] will be good, although it probably won’t live up to the caliber of the originals.”
Harry Hutter is a Staff Reporter for The Spartan Speaks.