Walt Disney has announced they have acquired Lucasfilm for $4.05 billion dollars.

Walt Disney CEO, Bob Iger, discusses Disney’s acquisition in a video released recently. In the video Mr. Iger says Disney are now “the caretakers of such iconic characters” (Star Wars), and adds that the Star Wars universe has “more than 17,000 characters, inhabiting several thousand planets, spanning 20,000 years. Giving Disney infinite inspiration and and opportunities to continue the epic Star Wars saga”. He adds fans can expect Star Wars Episode 7, in theaters worldwide in 2015. Iger further discusses Disney’s other acquisitions, including Pixar and Marvel, then closes his speech with ” the addition of Lucasfilm (with Marvel & Pixar), will further out growth strategy and create even more opportunity for Disney to drive significant long term value for our shareholders”.

In the second part of the video, Lucasfilm creator and namesake, George Lucas, mentions that he wanted to retire, pursue philanthropy, make experimental films, and explore his own interests. He feels Disney was the name to continue his Star Wars franchise. Mr. Lucas says he has been a fan of Disney his entire life and that Disney is part of his retirement fund and he feels confident in their taking over his company. He seemed confident that Disney would represent what he has built with Lucasfilm and the Star Wars franchise.

While fans are excited about the announcement,  some are worried about what Disney “will do to/with the Star Wars franchise”. I believe Disney wants to develop and grow the franchise for the better, and if recent Disney/Marvel films are any indication, fans have nothing to worry about.

Check out the entire video announcements below: