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Disney CEO Bob Iger's Comments About Disney Purchase of Star Wars (Official Text)

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Posted by: Matt McGloin, Editor/Publisher
created 11/07/2012 - 11:02am, updated 11/07/2012 - 11:05am

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On October 30th, Disney announced that they will be acquiring Lucasfilm from George Lucas for $4.5 billion which includes Star Wars, Indiana Jones, Industrial Light & Magic and Skywalker Sound.

You can head on over here to read the official press release.

Below, Disney provided text of Disney CEO Bob Iger's comments on the acquisition.

For more Star Wars news head on over to the Cosmic Book News Star Wars Movie Hub.

 

 

ROBERT A. IGER, CHAIRMAN AND CEO, THE WALT DISNEY COMPANY REMARKS FOR ANALYSTS REGARDING DISNEY'S ACQUISITION OF LUCASFILM LTD., AS PREPARED

As we just announced, The Walt Disney Company has agreed to acquire Lucasfilm and its world class portfolio of creative content – including the legendary Star Wars franchise – along with all of its operating businesses, including Industrial Light & Magic and Skywalker Sound.

George Lucas is a visionary, an innovator and an epic storyteller – and he's built a company at the intersection of entertainment and technology to bring some of the world's most unforgettable characters and stories to screens across the galaxy. He's entertained, inspired, and defined filmmaking for almost four decades and we're incredibly honored that he has entrusted the future of that legacy to Disney.

Disney has had a great relationship with George that goes back a long way – with Star Wars theme attractions in our parks in Anaheim, Orlando, Paris and Tokyo. This acquisition builds on that foundation and combines two of the strongest family entertainment brands in the world. It makes sense, not just because of our brand compatibility and previous success together, but because Disney respects and understands – better than just about anyone else – the importance of iconic characters and what it takes to protect and leverage them effectively to drive growth and create value.

Lucasfilm fits perfectly with Disney's strategic priorities. It is a sustainable source of branded, high quality creative content with tremendous global appeal that will benefit all of Disney's business units and is incredibly well suited for new business models, including digital platforms. Adding the Lucasfilm IP to our existing Disney, Pixar and Marvel IP clearly enhances our ability to serve consumers, strengthening our competitive position -- and we are confident we can earn a return on invested capital well in excess of our cost of capital.

Star Wars in particular is a strong global brand, and one of the greatest family entertainment franchises of all time, with hundreds of millions of fans around the globe. Its universe of more than 17,000 characters inhabiting several thousand planets spanning 20,000 years offers infinite inspiration and opportunities – and we're already moving forward with plans to continue the epic Star Wars saga.

The last Star Wars movie release was 2005's Revenge of the Sith – and we believe there's substantial pent up demand. In 2015, we're planning to release Star Wars Episode 7 – the first feature film under the "Disney-Lucasfilm" brand. That will be followed by Episodes 8 and 9 – and our long term plan is to release a new Star Wars feature film every two to three years. We're very happy that George Lucas will be creative consultant on our new Star Wars films and that Kathleen Kennedy, the current Co-Chair of Lucasfilm, will executive produce. George handpicked Kathy earlier this year to lead Lucasfilm into the future. She'll join Disney as President of Lucasfilm, reporting into Walt Disney Studios Chairman Alan Horn and integrating and building the Star Wars franchise across our company.

Our successful acquisitions of Pixar and Marvel prove Disney's unique ability to grow brands and expand high-quality creative content to its fullest franchise potential and maximum value.

We've leveraged Pixar's terrific characters and stories into franchises across our company – from feature films to consumer products online games, major attractions in our theme parks, and more.

The 2006 Pixar acquisition delivered more than great Pixar content -- it also delivered the means to energize and revitalize the creative engine at Walt Disney Animation – which was crucial to our long term success. Animation is the heart and soul of Disney and our successful creative resurgence will be on full display this weekend when Wreck-It-Ralphopens in theaters across the country.

Our acquisition of Marvel three years later combined Marvel's strong global brand and world-renowned library of characters with Disney's creative skills, unparalleled global portfolio of entertainment properties, and an integrated business structure that maximizes the value of creative content across multiple platforms and territories. Our first two Marvel films – Thor and Captain America grossed a total of more than $800 million at the box office. This year, Marvel's The Avengers grossed more than $1.5 billion to become the world's third highest grossing movie of all time – and an important and lucrative franchise for us.

We're looking forward to a robust slate of new Marvel movies – starting with Iron Man 3 and Thor: The Dark World next year, followed by Captain America: The Winter Soldier in 2014. And, as we announced previously, Joss Whedon is writing and directing Avengers 2 and developing a Marvel-based series for ABC.

Pixar and Marvel both fit our criteria for strategic acquisitions – they add great IP that benefits multiple Disney businesses for years to come, and continue to create value well in excess of their purchase price. The acquisition of Lucasfilm is in keeping with this proven strategy for success and we expect it to create similar opportunity for Disney to drive long-term value for our shareholders.

We're clearly excited about this move forward. We believe we can do great things with these amazing assets….we have a proven track record of maximizing the value of our strategic acquisitions…. and we're poised to do the same with this one.

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