In a move sure to shock fans of the Mouse House and George Lucas, the Walt Disney Company said Tuesday it has agreed to acquire Lucasfilm for $4.05 billion in cash and stock. The company also announced that it is prepping Star Wars: Episode 7 for release in 2015.

“For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next,” Lucas, the sole shareholder of Lucasfilm, said in a press release announcing the acquisition. “It’s now time for me to pass Star Wars on to a new generation of filmmakers.”

With the acquisition, Disney adds one of the world’s most enduring — and most profitable — sci-fi franchises to its ever-expanding stable. Disney, which has grown from humble animation company to massive media brand, successfully roped in Pixar in 2006 and bought Marvel Entertainment in 2009 (also for a $4 billion price tag). Buying Lucasfilm, Disney chairman Robert Iger said, was in line with the Marvel acquisition: The move essentially means Disney has cornered the market on superhero and sci-fi/fantasy films.

I wonder if Lucas is going to have any part in the movie or if it his retirement plan . Also has a strange feeling this has been on the cards for some time like 2 years worth making this deal happen.

Lights and magic are up for sale too disney have gotten quite a deal.