(MENAFN) Walt Disney Co will acquire filmmaker George Lucas's Lucasfilm Ltd and its "Star Wars" franchise for USD4.05 billion in cash and stock, Reuters reported.
Disney will pay about half the purchase price in cash and issue about 40 million shares at closing.
Disney CEO Bob Iger unveiled plans to release at least three more films in the blockbuster series of Star Wars sci-fi that ranks among the biggest movie franchises of all time.
George Lucas has confirmed the plans by saying that he had already created story treatments outlining three more films as well as many other Star Wars story lines.
Lucas will become the second-largest individual holder of Disney shares, with a 2.2 percent stake. He will also remain a creative consultant on the new films.
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