David Muir, anchor of ABC World News Tonight with David Muir, will be the Master of Ceremonies for the 16th Annual Toy of the Year Awards (TOTY), which will be held at the Museum of Natural History in New York. [Read more...]
The Walt Disney Company will acquire Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is 100 percent owned by Lucasfilm Chairman and Founder, George Lucas. Under the terms of the agreement and based on the closing price of Disney stock on October 26, the transaction value is $4.05 billion, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing. The final consideration will be subject to customary post-closing balance sheet adjustments.
Under the deal, Disney will acquire ownership of Lucasfilm, including its Star Wars franchise and its operating businesses in live-action film production, consumer products, animation, visual effects, and audio post-production. Lucasfilm, headquartered in San Francisco, operates under the names Lucasfilm Ltd., LucasArts, Industrial Light & Magic, and Skywalker Sound, and the present intent is for Lucasfilm employees to remain in their current locations.
Kathleen Kennedy, current co-chairman of Lucasfilm, will become president of Lucasfilm, reporting to Walt Disney Studios Chairman Alan Horn. Additionally she will serve as the brand manager for Star Wars, working directly with Disney’s global lines of business to build, further integrate, and maximize the value of this global franchise. Kennedy will serve as executive producer on new Star Wars feature films, with George Lucas serving as creative consultant. Star Wars Episode 7 is targeted for release in 2015, with more feature films expected to continue the Star Wars saga.