Arab Today, arab today george lucas prepares to cash out disney stack
Last Updated : GMT 06:37:29
Arab Today, arab today
Arab Today, arab today

George Lucas prepares to cash out Disney stack

Arab Today, arab today

Arab Today, arab today George Lucas prepares to cash out Disney stack

New York - AFP

"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 with US federal regulators. The document filed with the Securities and Exchange Commission 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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