George Lucas Keeping His $2B in Disney Stock for Now

Star Wars creator received shares from Lucasfilm deal

   

610 lucas about 300x152 George Lucas Keeping His $2B in Disney Stock for NowStar Wars creator George Lucas says he has no plans to sell his $2 billion worth of Disney (NYSE:DIS) stock.

In a regulatory filing by Disney, Lucas gained the right to sell his shares of the company, Bloomberg Businessweek reports. Lucas acquired 37.1 million shares of Disney when he agreed to sell Lucasfilm to Disney for the shares and $2.21 billion in cash. The sale made Lucas the second-largest non-institutional investor in Disney, after the trust left by Steve Jobs.

Even with his new freedom, though, Lucas does not plan to sell of his shares. A spokesperson for Lucasfilm told Bloomberg in an email, “George Lucas currently has no plans to sell his Disney stock. This was a required filing in conjunction with the sale of Lucasfilm to Disney.”

In the sale, Disney bought all aspects of Lucasfilm, including the Star Wars and Indiana Jones franchises. Disney has announced plans to make several new Star Wars films with the first to be released in 2015.

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Article printed from InvestorPlace Media, http://investorplace.com/2013/02/george-lucas-keeping-his-2b-in-disney-stock-for-now/.

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