Disney Buys ‘Star Wars’ Producer Lucasfilm for $4 Billion – Bloomberg   Leave a comment

Walt Disney Co. (DIS) agreed to buy George Lucas’s Lucasfilm Ltd. for $4.05 billion in cash and stock, adding “Star Wars” and “Indiana Jones” to a roster of film hits including “The Avengers” and “Finding Nemo.”

Lucas, 68, the sole owner, will receive half in cash and the balance in stock, becoming a major investor in the film, theme-park and TV company, according to a statement today from Burbank, California-based Disney. The first of a new trilogy of “Star Wars” films will be released in 2015, Disney said.

The deal brings Disney, which paid a combined $11 billion for Pixar and Marvel in the past decade, two of Hollywood’s most lucrative franchises. The “Star Wars” films have generated $4.54 billion in worldwide ticket sales, second to Warner Bros.’ “Harry Potter,” according to Box Office Mojo. “Indiana Jones” pictures have collected $1.95 billion.

“Dating all the way back to Walt Disney’s day, we learned the value of great content, characters, storytelling and great imaginary worlds,” Chief Executive Officer Robert Iger said in an interview.

The acquisition complements Iger’s focus on sequels and film franchises, fitting the same profile as the Marvel purchase three years ago.

“If Disney is really trying to focus on the tent-pole, event pictures, and given that this is something that has huge carryover value in the parks and merchandise business, it certainly makes sense,” said Matthew Harrigan, an analyst at Wunderlich Securities in Denver. “This is just the paradigm of the sustainable Hollywood franchise.”

AN : This report underscores the need to have those who are economic-centric understand the value of creativity and the creative arts. Yes ultimately it is about pure ejoyment of the expression of our God given talents , but it is also that such creative expression can be measured and monetized.

Too much emphasis is laid on economics as a driver. George Lucas, Steve Jobs  et al opened whole new worlds, so to speak ,with their ways of thinking and what they thought up.

In another blog , ( http://www.nakedcapitalism.com/2012/10/randy-wray-the-worlds-worst-central-banker.html ) the author reviewed commentary about the Central Banker for Argentina :

“The head of the Argentine Central Bank—Mercedes Marco del Pont–has been awarded the distinction as “the world’s worst central banker”. By whom, you might ask? Well, by Wall Street’s sycophantic press. Wall Street hates Mercedes. The woman, not the car.

Why? Well, for one thing she’s a woman. Wall Street hates female heads of central banks (take a look at the list of the top ten worst—3 out of 10 are female; then take a look at the 10 best, of which all but one are males.)

But that’s not anywhere near the most important reason. Ms. Marco del Pont kicked off the conference with a rousing talk, defending her central bank’s recent move away from a single mandate (inflation target) to pursuit of multiple mandates: financial stability, employment creation, and economic development with social equity.  

When Central Bankers begin to get the message and get out the message that economics is not enough…we are onto something.

Creativity has tremendous value….Lucas would surely attest to that.

http://goo.gl/BI8lf

via Disney Buys ‘Star Wars’ Producer Lucasfilm for $4 Billion – Bloomberg.

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Posted October 30, 2012 by arnoneumann in creativity, Economic, Thinking

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