Disney Buys LucasFilm For $4 Billion

The Walt Disney Company is looking to add "The Force" to its roster of awesomeness. Details about the deal after the jump.

Disney spent $4 billion in a deal that brings the uber-successful "Star Wars" franchise under their umbrella, with plans to release "Episode 7" of the long-running saga in 2015.

The House of Mouse has long had a close relationship with LucasFilm and its founder, George Lucas, as the two parties have combined their efforts to feature attractions at Disney theme parks such as "Star Tours" at Disney's Hollywood Studios in Florida.

"It's now time for me to pass 'Star Wars' on to a new generation of filmmakers," Lucas said in a statement. Much to the chagrin of nerds and hardcore fans eager to see George step down from heading the franchise, it will be a great future for those looking to experience those outer space memories without a series of edits and reworks.

The cash and stock deal is valued at about $4.05 billion, which is roughly the same amount that Disney purchased Marvel Studios for. "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," Disney CEO Robert Iger said in a statement.

The six "Star Wars" films have earned a total of $4.4 billion at the box office alone and Lucas will act as creative consultant on the new film, which is set to conclude the space opera beyond "Episode 7."

The deal is subject to federal antitrust approval.

Props: ABC News