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Old 12-22-2012, 11:36 AM   #1
Char Ell
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Arrow THE WALT DISNEY COMPANY COMPLETES LUCASFILM ACQUISITION

THE WALT DISNEY COMPANY COMPLETES LUCASFILM ACQUISITION

Quote:
Deal expected to strengthen Disney’s position as a leading global provider of high-quality branded entertainment and build long-term shareholder value

BURBANK, Calif., December 21, 2012
– Continuing its strategy of delivering exceptional creative content to audiences around the world, Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company (NYSE: DIS) announced today that Disney has completed its acquisition of Lucasfilm Ltd. LLC.

“We’re thrilled to welcome Lucasfilm to the Disney family,” said Iger. “Star Wars is one of the greatest family entertainment franchises of all time and this transaction combines that world class content with Disney’s unique and unparalleled creativity across multiple platforms, businesses, and markets, which we believe will generate growth as well as significant long-term value.”

Under the terms of the merger agreement, at closing Disney issued 37,076,679 shares and made a cash payment of $2,208,199,950. Based upon the closing price of Disney shares on December 21, 2012 at $50.00, the transaction has a total value of approximately $4.06 billion.

Lucasfilm’s assets include its massively popular Star Wars franchise, operating businesses in live action film production, consumer products, animation, visual effects, and audio post production, as well as a substantial portfolio of cutting-edge entertainment technologies. It operates under the names Lucasfilm Ltd. LLC, LucasArts, Industrial Light & Magic, and Skywalker Sound.

Forward-Looking Statements:

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements relate to the expected benefits of the integration of Disney and Lucasfilm; the combined company's plans, objectives, expectations and intentions and other matters that are not historical fact. These statements are made on the basis of the current beliefs, expectations and assumptions of the management of Disney regarding future events and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. Disney does not undertake any obligation to update or revise these statements, whether as a result of new information, future events or otherwise.

Actual results may differ materially from those expressed or implied. Such differences may result from a variety of factors, including but not limited to developments beyond the Disney’s control, including but not limited to: changes in domestic or global economic conditions, competitive conditions and consumer preferences; adverse weather conditions or natural disasters; health concerns; international, political or military developments; and technological developments. Additional factors that may cause results to differ materially from those described in the forward-looking statements are set forth in the Annual Report on Form 10-K of Disney for the year ended September 29, 2012, under the heading "Item 1A—Risk Factors," and in subsequent reports on Form 8-K and other filings made with the SEC by Disney.


Contacts:

Zenia Mucha
818-560-5300
While not a press release from LucasArts I thought this worth posting as LucasArts is now owned by Disney instead of George Lucas. At this point it's anyone's guess as to what will happen with LucasArts, LucasArts's existing games, contracts, website, Star Wars fan forums like this one and games in development. But considering how poorly LucasArts has performed over the last few years or so I'm hopeful that things won't get any worse.


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