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George Lucas prepares to cash out Disney stock

The document filed with SEC aims to allow the potential sale of the 37.1 million Disney shares in Lucas’s trust
AFP Mail Me
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First Published: Thu, Feb 07 2013. 01 28 PM IST
A file photo of George Lucas. Photo: AFP
A file photo of George Lucas. Photo: AFP
New York: “Star Wars” creator George Lucas is preparing a possible sale of his $2.02 billion stake in Walt Disney, according to a filing by the company on Wednesday with US federal regulators.
The document filed with the Securities and Exchange Commission (SEC) aims to allow the potential sale of the 37.1 million Disney shares in Lucas’s trust. But the move does not necessarily mean a sale will take place.
The company has not indicated when it could sell the shares, nor how many it would sell, and the document said Disney could decide against selling any at all.
“The selling security holder has not informed us, and we do not know, when or in what amounts the selling security holder may offer for sale the shares of common stock pursuant to this offering,” it added.
“The selling security holder may choose not to sell any of the shares offered by this prospectus.”
Disney paid Lucas partly in shares when it purchased his LucasFilm Ltd last year for $4.05 billion.
The transaction paved the way for Disney to plan a new trilogy in the wildly popular Star Wars sci-fi saga, which has raked in an estimated $4.4 billion since 1977.
Three new films are expected to come out every two to three years starting in 2015.
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First Published: Thu, Feb 07 2013. 01 28 PM IST
More Topics: George Lucas | Walt Disney | stock | sale | Star Wars |
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