BREAKING NEWS: Disney to buy Lucasfilm, Ltd for $4.05B

Star Wars creator George Lucas to sell his entertainment empire to Disney
led by Chairman/CEO Robert Iger. (Photo: The Walt Disney Company)

Burbank, CA and San Francisco, CA, October 30, 2012 – Continuing its strategy of delivering exceptional creative content to audiences around the world, The Walt Disney Company (NYSE: DIS) has agreed to acquire Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas.

Under the terms of the agreement and based on the closing price of Disney stock on October 26, 2012, the transaction value is $4.05 billion, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing. The final consideration will be subject to customary post-closing balance sheet adjustments.

"Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas," said Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company. "This transaction combines a world-class portfolio of content including Star Wars, one of the greatest family entertainment franchises of all time, with Disney's unique and unparalleled creativity across multiple platforms, businesses, and markets to generate sustained growth and drive significant long-term value."

"For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next," said George Lucas, Chairman and Chief Executive Officer of Lucasfilm. "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."

Under the deal, Disney will acquire ownership of Lucasfilm, a leader in entertainment, innovation and technology, including its massively popular and "evergreen" Star Wars franchise and its operating businesses in live action film production, consumer products, animation, visual effects, and audio post production. Disney will also acquire the substantial portfolio of cutting-edge entertainment technologies that have kept audiences enthralled for many years. Lucasfilm, headquartered in San Francisco, operates under the names Lucasfilm Ltd., LucasArts, Industrial Light & Magic, and Skywalker Sound, and the present intent is for Lucasfilm employees to remain in their current locations.

A Music Lover's Delight!!!

If you love soul-stirring organ music, then you must support the "Killer B3" project! I received a message from my friend and college classmate, Murv Seymour, asking me to check out the trailer on Kickstarter.  (Kickstarter is a fantastic site that is helping creative people and entrepreneurs raise money to fund their projects.)  I took that look and was immediately in love with the project because I love music played on a Hammond organ. Whether it's in a church, a jazz club or on one of the remixes of Whitney Houston's "I'm Every Woman," there's just something about a Hammond!  Take a moment and play the trailer.

Murv and I used to work on ambitious projects like this when we were in college at Southern University in Baton Rouge.  It's hard to believe that it's been 25 years since Murv and I worked on creating a public affairs show called "Campus Perspectives" at Southern.  We both did our time in television news and are now working on establishing the next big things in our lives and careers.  I wholeheartedly support the "Killer B3" project and hope that you will, too!

Please visit the "Killer B3" Kickstarter page and contribute to the completion of the project.  Any donation, large or small, will be greatly appreciated and will help bring the wonderfully inspiring story of an often ignored music genre to the masses.

A Shuckin’ Good Time Expected As Growing Home Southeast Plans Annual Oyster Roast Benefit

Photo: About.com

With the arrival of autumn comes the return of a South Carolina tradition:  Oyster roast season! Growing Home Southeast—a non-profit family service agency—will host its 3rd Annual Oyster Roast fundraiser on Friday, November 2, 2012 from 6:00 pm – 10:00 pm at the Carolina Haven near Williams Brice Stadium.

The event benefits Leaphart Place, built by Growing Home Southeast as a supportive housing complex for young adults who are aging out of foster care or other state-assisted living arrangements and are at risk for homelessness.