2012 — now it is nearly 2024 … almost 12 years ago, decade plus 2 years ago?
Hmm…
George Lucas’s decision to sell Lucasfilm, including the “Star Wars” franchise, to Disney in 2012 was influenced by several factors:
- Succession Planning: Lucas was aware of the challenges in ensuring the longevity and continuity of the “Star Wars” legacy. At 68, he was considering retirement and was looking for a way to pass on his creation to a new generation of filmmakers. Disney, with its strong track record in handling big franchises, appeared as a suitable custodian.
- Creative Legacy: Lucas had previously seen Disney as a good home for his other major franchise, “Indiana Jones.” He trusted Disney’s ability to respect and expand on his creative vision, ensuring that “Star Wars” would continue to thrive.
- Financial Security: The deal with Disney was worth approximately $4.05 billion, a significant financial gain for Lucas. This not only secured his financial future but also provided funds for his philanthropic interests.
- Philanthropy: Post-sale, Lucas committed to donating the majority of the proceeds from the sale to education-focused philanthropy. This reflected his long-standing interest in education and charitable causes.
- Future of the Franchise: Lucas recognized that Disney had the resources and capability to expand the “Star Wars” universe in ways he couldn’t achieve independently. This included theme parks, merchandise, and new film and television projects.
- Industry Trends: The sale occurred in a context where big studios were consolidating popular franchises. Disney had already acquired Marvel and would later acquire 21st Century Fox. Lucas’s decision can be seen as part of a broader trend in the entertainment industry.
Lucas’s decision, from a philosophical perspective, underscores themes of legacy, the passage of time, and the evolution of creative works beyond their original creators. It also reflects a recognition of the changing landscape of media and entertainment, where scale and diversified capabilities have become crucial for the sustained success of large franchises.