Star Wars fanatics are jumping for joy at news of the classic
series revival today.
investors aren't so enthused.
Disney shares fell 2% today after the company announced it was
, the production company that produced all six Star Wars films,
for a cool $4 billion. Plans for another three Star Wars films
are already in the works - "Episode 7" is already scheduled for
release in 2015.
Star Wars is undoubtedly one of the most profitable franchises
in movie history. The previous six films grossed nearly $4.5
billion in worldwide box office sales.
However, the last three movies didn't garner the critical
acclaim of the earlier films. But are bad reviews what prompted
some Disney investors to sell their shares today? Probably
Bad timing was probably the larger culprit, given that the
announcement came the day after one of the worst
the East Coast has ever seen.
Some analysts also questioned whether Disney overpaid for
their Lucasfilm rights. Also, Disney isn't likely to see much
revenue from its Lucasfilm purchase for a little while.
Disney investors are surely hoping that the company's
Lucasfilm purchase pays off the way its 2009 buyout of Marvel
Entertainment has. Disney bought Marvel for the same $4 billion
price. That allows it to produce comic-book movies like "
," which this year became the third-highest grossing move of
Despite today's decline, Disney shares are still having a good
year. The stock is up 28% in 2012.