Lucasfilm 'Star Wars' Franchise Acquired by Disney

$4 billion deal puts Lucasfilm Ltd. under the Walt Disney Co. banner.
3:00 | 10/31/12

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Transcript for Lucasfilm 'Star Wars' Franchise Acquired by Disney
A galaxy far far away. Just got a whole lot closer to the obvious place -- -- Bob -- head of the Walt Disney company and George Lucas creator of the Star Wars franchise make it official. Lucas film is now part of Disney acquired for just over -- Billion dollars Disney as a unique ability to grow strong brands and expand fantastic creative content. As we've proven within our successful acquisitions but both Pixar and marvel. The addition of Lucas film brings with it Darth Vader Luke Skywalker in the rest of the Star Wars family. But -- city been thinking about selling his company for the past four years and was intent on having it go to Disney refusing to shop it around. -- probably could have gotten more money Varner. Competed but I'd you know that's not really the issue for me it's really a matter of making sure the film -- secure. And the property secure as well taken care. As for Lucas she says the deal with Disney as his retirement plan and he's going to be handing over the reins to the company. Though he says he's not completely finish with Lucas -- I'm gonna remain as a consultant. You know on the on the pictures the three movies seven you know little so yeah I'm I'm -- I'll be the -- in the corner so when they get confused I can tell what that means. The and it. Taking over the -- at Lucas -- Kathleen Kennedy -- second most successful film producer of all time. And yes Star Wars fans you heard right three more movies are planned Star Wars seven is due out in 2050. -- Burbank Robin Hayes ABC sound. Eyewitness News.

This transcript has been automatically generated and may not be 100% accurate.

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