Here’s a fact that 99% of news sites get wrong: Disney didn’t buy Lucasfilm on 30th October 2012, as most outlets state. They bought it on 21st December 2012. The deal was approved by the Federal Trade Commission on 4th December, and the transaction officially closed on 21st December.
The misconception arose because on 30th October, Disney announced their intention to buy for $4.05 billion, with 50% of it being in cash, making George Lucas one of their largest individual shareholders. 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 21st December 2012 at $50.00 per share, the transaction had a total value of approximately $4.06 billion.
This is how Disney announced it on their website back on 21st December 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.”
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.
So, just as Star Wars is celebrated on May the 4th when it’s actual birthday is 25th May, it’s likely the case that 30th October will remain the day people remember as the day Disney bought Lucasfilm….even though it wasn’t.
