The Force is strong with this merger. Disney announced on Tuesday that it had purchased Lucasfilm for $4.05 billion in cash and stock shares. In conjunction with the news, Disney also revealed that plans for a seventh "Star Wars" film, "Star Wars: Episode VII," are in motion with eyes on theatrical release in 2015.

During a conference call announcing the merger, it was reported that Disney executives said they wanted to release an "Episode VII" and "Episode IX" as well. The films would ideally reach theaters every two or three years.

"It's now time for me to pass 'Star Wars' on to a new generation of filmmakers. I've always believed that 'Star Wars' could live beyond me, and I thought it was important to set up the transition during my lifetime," Lucas, who directed four of the six "Star Wars" films, said in a statement. "I'm confident that with Lucasfilm under the leadership of Kathleen Kennedy, and having a new home within the Disney organization, 'Star Wars' will certainly live on and flourish for many generations to come. Disney's reach and experience give Lucasfilm the opportunity to blaze new trails in film, television, interactive media, theme parks, live entertainment, and consumer products."

Echoed Disney chairman and chief executive officer Robert Iger, "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."

According to Iger, the deal came with "an extensive and detailed treatment for the next three ['StarWars'] movies."

Lucas released a video discussing the future films, saying that he has story treatments for not only three new "Star Wars" films, but also "a bunch of other movies."

"We are absolutely going to make 'Star Wars' movies," Kennedy said in the video release, "and we are in the midst of the really fun part of the process, which is we're sitting down with a couple of writers and we're starting to discuss ideas."

Lucas said he decided to do the merger, in part, to give "Star Wars" stories to future generations.

This isn't the first time Disney spent this much to acquire a beloved geek property. In 2009, the company bought Marvel for $4 billion, giving it control over superheros like Iron Man, Captain America, Hulk and Thor. According to Variety, the deal also gives Disney the rights to "Indiana Jones."

For more on the Disney acquisition of Lucasfilm, head over the Disney website.

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  • Darth Vader

    Lucasfilm was bought by Disney, there is no way I am wearing Mickey Mouse ears.

  • not Luke Johnson

    STAR WARS VII: THE EMPEROR'S NEW GROOVE

  • MC Frontalot

    Marvel, Lucasfilm... Disney systematically buying up things that were vital to me at age 12. Next they acquire Robotech, Now & Laters, air.

  • The Dark Lord

    Does the Disney/Lucasfilm merger mean that Leia is now a Disney Princess?

  • Andrew Tumilty

    Saw news about Disney & Star Wars, looked at calendar. Nicely done Mayans, you were obviously strong in the Force. #DisneyBuysLucasFilm

  • Joe ~ Speedyf40

    It was like a million nerds (voices) crying out in unison then suddenly retweets! #DisneyBuysLucasfilm

  • Professor Snape

    Now that Disney has bought Lucasfilm, I think we can all agree that we want to see Tony Stark kill Jar Jar Binks in Star Wars 7.

  • SeeCat

    Jack Sparrow steals the Millennium Falcon. Hijinks ensue. #DisneyBuysLucasfilm

  • Andy Gaffney

    I mean to quote my generation, this shit be cray cray #DisneyBuysLucasFilm

  • Bam-Bam

    Star Wars Episode VII: The Jedi Wore Tennis Shoes #disneybuyslucasfilms

  • Cesar R Cespedes

    I felt a disturbance in the Force, as if millions of geeks were shocked in an instant #DisneybuysLucasfilms

  • FILM CRIT HULK

    NOW THAT DISNEY OWNS MARVEL + STAR WARS, HULK STARRING IN CROSSOVER MOVIE WHERE HULK SMASHES JAR JAR BINKS FOR 2 HOURS FOR, LIKE, NO REASON

  • Jeremy Lambert

    Star Wars Episode 7: The Return of Miley Cyrus #DisneyBuysLucasFilms

  • Brandon Mueller

    Truly the twitter sphere now has something else to explode about. #disneybuyslucasfilms

  • The Dark Lord

    Lucasfilm has just been sold to Disney. So Disney is now in control of the Dark Side? I KNEW IT!

  • Graeme

    I go for lunch and Disney buys Lucasfilm? WHAT THE WHAT?

  • Bryan K

    I'm pretty sure this Disney-Lucasfilm news is breaking my corner of the internet.

  • iUtsab

    Disney just bought Star Wars & LucasFilm. Meaning more princess than Jedi. #StarWars

  • Dale McGladdery

    Let's face it, Lucas had already Disneyfied Stars Wars, anyway. This seems more up front. - Disney buying Lucasfilm http://t.co/22NiPWfv

  • Greg Linch

    Not sure how to react to this -> “Princess Leia is now a member of the Disney Princess club, I guess.” -- @abtran in a Facebook comment

  • Giordano Ciampini

    Toydarian Story #DisneyBuysLucasFilm

  • Pedro Montojo

    #DisneyBuysLucasfilm Jar Jar Poppins

  • Brian Flatley

    No one obviously told #Disney “IT’S A TRAP!!!” #Disneybuyslucasfilm

  • Raymond Kemp

    There was a disturbance in the force like the voices of a million nerds were scilenced. #DisneybuysLucasfilm

  • Hesiod Theogeny

    Now, if we can just get Disney to buy out JK Rowling.... #disneystarwars #disneypotter #disneybuyslucasfilm

  • mhoye

    Emperor Palpatine's New Groove #DisneyBuysLucasFilm

  • Andrés de Rojas

    May the Force be with... Mickey Mouse? #DisneyBuysLucasfilm

  • Popehat

    A long time ago, in a galaxy fully complaint with SOPA and PIPA . . . . #DisneyBuysLucasfilm

  • Hall'Owen Craig

    So... the Internet just exploded. #DisneyBuysLucasFilm

  • Johnny

    I guess this means Jason Segal will make the next "Star Wars" movie. #DisneyBuysLucasFilm

  • Uncle Jago

    Mulando Calrissian #DisneyBuysLucasFilm

  • Kevin Rigdon

    Is there enough room at Disney World to build a Death Star? #DisneybuysLucasfilm

  • Joe Dunn

    Medicloreans revealed to be Tinkerbell pixie dust. #DisneyBuysLucasFilm

  • Lauren Alice Dykes

    I kinda get the feeing I might be the only one who is super-stoked about this... #DisneybuysLucasfilm

  • AnimationFascination

    Pixar/Marvel/Indiana Jones/Star Wars crossover possibilities FTW? #DisneyBuysLucasfilm

  • witchking42

    Oh bloody hell. A Disney Jar Jar Binks is all we need. #tweetfleet #disneybuyslucasfilm

  • Pedro Montojo

    #DisneyBuysLucasfilm Jar Jar Poppins

  • Tomeu X. Sastre

    #DisneyBuysLucasfilm Snow White and the 7 ewoks

  • John Hardy

    RT @joshgreenman: Jar Jar, Goofy. Goofy, Jar Jar. #disneybuyslucasfilm