George Lucas Files To Sell $2 Billion Worth Of Disney Shares
George Lucas is about to cash in on the sale of his Lucasfilm production company to Disney. The director-screenwriter has filed to sell off his 2 percent holding in the massive media company.
Lucas’ stake in the company includes 37,076,679 shares of Walt Disney Company common stock, which will sell at a price of $53.77 per share. Based on those numbers, Lucas will pick up $1.99 billion.
George Lucas is the second largest single share holder at Disney, bested only by the estate of the late Steve Jobs.
Lucasfilm sold in a $4 billion blockbuster deal meant to give Disney control over the Star Wars franchise.
The registration includes all of the stock Lucas received as part of the Lucasfilm acquisition. Once the shares are sold, George Lucas will own no stock in the entertainment company.
In the prospectus, it is noted that Lucas may sell his stock off “from time to time,” which could leave the Star Wars creator with a share of Disney over the short-term.
The final Lucasfilm deal closed on December 21, 2012.
When George Lucas announced the deal in October, he said Disney could give his films a “longer life,” and his willingness to sell off all his shares appears to show his complete trust in Disney’s future Star Wars decisions.
Do you think George Lucas trusts Disney or is he trying to get out before the company destroys the Star Wars franchise?