Disney has acquired Lucasfilm’s for 4 billion dollars, coming with the acquisition Disney now owns the rights to the LEGENDARY Star Wars franchise. This isn’t the only news for Star Wars fans that broke today too, they will be a 7th entry into the Star Wars franchise with Episode 7 expected to impact theaters in 2015. George Lucas release a statement below:

“For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next,” said Lucas. “It’s now time for me to pass Star Wars on to a new generation of filmmakers. I’ve always believed that Star Wars could live beyond me, and I thought it was important to set up the transition during my lifetime. I’m confident that with Lucasfilm under the leadership of Kathleen Kennedy, and having a new home within the Disney organization, Star Wars will certainly live on and flourish for many generations to come. Disney’s reach and experience give Lucasfilm the opportunity to blaze new trails in film, television, interactive media, theme parks, live entertainment, and consumer products.”