The Walt Disney Company Completes Lucasfilm Acquisition

  The Walt Disney Company Completes Lucasfilm Acquisition

Deal expected to strengthen Disney’s position as a leading global provider of
   high-quality branded entertainment and build long-term shareholder value

Business Wire

BURBANK, Calif. -- December 21, 2012

Continuing its strategy of delivering exceptional creative content to
audiences around the world, Robert A. Iger, President and Chief Executive
Officer of The Walt Disney Company (NYSE:DIS) announced today that Disney has
completed its acquisition of Lucasfilm Ltd. LLC.

“We’re thrilled to welcome Lucasfilm to the Disney family,” said Iger. “Star
Wars is one of the greatest family entertainment franchises of all time and
this transaction combines that world class content with Disney’s unique and
unparalleled creativity across multiple platforms, businesses, and markets,
which we believe will generate growth as well as significant long-term value.”

Under the terms of the merger agreement, at closing Disney issued 37,076,679
shares and made a cash payment of $2,208,199,950. Based upon the closing price
of Disney shares on December 21, 2012 at $50.00, the transaction has a total
value of approximately $4.06 billion.

Lucasfilm’s assets include its massively popular Star Wars franchise,
operating businesses in live action film production, consumer products,
animation, visual effects, and audio post production, as well as a substantial
portfolio of cutting-edge entertainment technologies. It operates under the
names Lucasfilm Ltd. LLC, LucasArts, Industrial Light & Magic, and Skywalker
Sound.

Forward-Looking Statements:

Certain statements in this press release may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements relate to the expected benefits of the integration of
Disney and Lucasfilm; the combined company's plans, objectives, expectations
and intentions and other matters that are not historical fact. These
statements are made on the basis of the current beliefs, expectations and
assumptions of the management of Disney regarding future events and are
subject to significant risks and uncertainty. Investors are cautioned not to
place undue reliance on any such forward-looking statements, which speak only
as of the date they are made. Disney does not undertake any obligation to
update or revise these statements, whether as a result of new information,
future events or otherwise.

Actual results may differ materially from those expressed or implied. Such
differences may result from a variety of factors, including but not limited to
developments beyond the Disney’s control, including but not limited to:
changes in domestic or global economic conditions, competitive conditions and
consumer preferences; adverse weather conditions or natural disasters; health
concerns; international, political or military developments; and technological
developments. Additional factors that may cause results to differ materially
from those described in the forward-looking statements are set forth in the
Annual Report on Form 10-K of Disney for the year ended September 29, 2012,
under the heading "Item 1A—Risk Factors," and in subsequent reports on Form
8-K and other filings made with the SEC by Disney.

Contact:

The Walt Disney Company
Zenia Mucha, 818-560-5300
 
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