Stunning Report Says George Lucas to Donate Most of $4 Billion in Star Wars Disney Deal

In a stunning report, George Lucas will donate most of the $4 billion he recently acquired in the high profile transaction in which Disney paid as the purchased price for his Lucasfilm company, which includes Star Wars according to “The Hollywood Reporter.” Lucas plans to give a significant portion of the proceeds to a foundation that will primarily focus on educational issues.

“George Lucas has expressed his intention, in the event the deal closes, to donate the majority of the proceeds to his philanthropic endeavors,” a spokesperson told THR.

“For 41 years, the majority of my time and money has been put into the company,” Lucas said in a statement Wednesday. “As I start a new chapter in my life, it is gratifying that I have the opportunity to devote more time and resources to philanthropy.”

We reported yesterday that Hollywood was in some sense, still reeling over the Disney acquisition, which brought Luke, Leia, Chewbacca, Han and gang into the Mouse house. A number of tabloids and newspapers had confirmed that on Tuesday, October 30, George Lucas had sold Lucasfilm for more than $4 billion as Disney strengthen its merchandising power.

We pondered the question if the iconic director sold Star Wars just for the money or was the director interested in his prized creation’s longevity.

Yesterday we were incline to believe that the director was more interested in longevity, however with the breaking of today’s news it appears that both answers apply because when the goal is to give most of the money in a business transaction such as this, it seems you’d want to give away as much money as you could.

The entire event appears to have changed from somewhat controversial to applause.

Lucas was reported as having said; “It was a perfect match of two companies that are constructed similarly… It will give me a chance to go off and explore my own interests[and] at the same time feel completely confident that Disney will take good care of the franchise that I’ve built.”

The indication yesterday was that Lucas had sold his entire franchise to Disney with the open endorsement that the Big Mouse could make “Star Wars” movies for “another 100 years,” while he raced away from the deal loaded. Now we know that the deal was just part of a larger philanthropic plan to contribute much of the money away to a cause that was dear to the man’s heart.

Of course it was logical for those who were not acquainted with the man to think Lucas might be doing the deal solely for money. But sometime doing a deal exclusively for money can have a just cause as a foundation. However, it turns out, Lucas’s motives were manifold.

For instance, Lucas appears to have settled on Disney because he has always visualized “Star Wars” as having a perennial destiny. And the director says as much in a Youtube.com video. In it, Lucas expresses in detail the reasons he chose to do business with Disney, pointing to their success with Marvel and Pixar.

Another reason he chose Disney is he believed it would be good news for fans, for they will not only get an episode seven, but, in fact, an entire new trilogy. “I always said I wasn’t going to do any more, and that’s true, I’m not going to do any more,” said Lucas, who will not write or direct the upcoming films, but whose iconic imprint will be all over them.

“It was a perfect match of two companies that are constructed similarly,” Lucas said. “It will give me a chance to go off and explore my own interests [and] at the same time feel completely confident that Disney will take good care of the franchise that I’ve built.”

We closed our argument in yesterday’s report, suggesting that for those afraid of the MouseHouse takeover, in the end, the overall deal with Lucasfilm proves that Disney wants to really make (and take) its role as parent company seriously. By fostering a variety of creative studios (Pixar, Marvel, and now Lucasfilm), rather than creating in-house content—which has, at times, been a bit spotty these days, let’s be honest—they stand to not only make a lot more money (shocker!) by acquiring these brands, but also allow these creatives a bit more freedom to develop themselves and their technologies.

And for Disney, that means a lot less competition for their demographic expansion. Countering Fairytale Princesses with Sith Lords! It’s a heck of a business plan.

Today we would be remiss if we didn’t responsibly report that first off, the deal with Disney, while apparently a done deal has not closed yet. But more importantly, though it’s not clear which foundation will get the proceeds, the $4.05 billion payout that George Lucas is set to receive from Disney will not go entirely toward the filmmaker’s retirement fund, inflating his Forbes standing, or to building a fully operational Death Star, loading it with paid SAG extras in Chewbacca costumes, and sending it to a galaxy far, far away for interplanetary posterity. Instead, will “donate the majority of the proceeds” from the sale of Lucasfilm “to his philanthropic endeavors.”

It is quite a compassionately concern for others and we must applaud the man.

We will read your comment immediately so leave a remark!

RSS Guardian Express

  • Miley Cyrus: Next Star to Rehab? April 21, 2014
    Miley Cyrus was reported to have told Dolly Parton about her drug use. Parton was concerned for Cyrus after hearing her talk so casual about the use. Is it possible Miley Cyrus will be the next star to go down the rabbit hole of addiction, ending up in rehab? After the outlandish behavior of Cyrus, […]
    Jabar Morarend
  • Innocence Lost Regained April 21, 2014
    Innocence in America in times past, seemed inevitable that the days of black and white would fade into color and reel to reel would evolve into the Blue Ray DVD. Yesteryear, movies were pretty tame in comparison to today’s films with their graphic violence and soft-core porn love scenes. Where are the days of Matt […]
    John Thomas
  • Turn on AMC: Of Cabbages and Kings (Recap/Review) April 21, 2014
    On Turn on AMC tonight, the episode is called Of Cabbages and Kings. The title is likely taken from the Lewis Carroll poem “The Walrus and the Carpenter.” It’s an apropos title, as Abe Woodhull is a cabbage farmer, and the show depicts Americans revolting against the rule of King George III of England, and […]
    Douglas Cobb
  • ‘Hearthstone’ Hits the iPad After Successful Beta April 21, 2014
    Hearthstone: Heroes of Warcraft, Blizzard’s crack at a collectible card game, has received rave reviews since its inception. The game was designed with the mobile platform in mind, and after months of open beta on the PC, Blizzard released the game on the iPad on Wednesday. In less than a week, Hearthstone has already become […]
    Jonathan Gardner
  • Ukraine Crisis Has Rapture Watchers Nervous [Video] April 21, 2014
    The Ukraine Crisis is continuing to draw various interests and concerns from across the world to a head. Notably, the recent events in Eastern Europe has made some rapture watchers nervous. With controversial figures and internet videos touting the recent events as prophecy, the crisis now has a heavy religious following. Figures such as John […]
    Brett Byers-Lane

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 629 other subscribers

Quantcast