Burbank-based The Walt Disney Company has acquired Lucasfilm Ltd., the film company owned by George Lucas, in a deal worth $4.05 billion, Disney said Tuesday afternoon. Disney said it would pay stock and cash for Lucasfilm, with approximately half in cash and 40M in shares. Lucasfilm owns the rights to Star Wars. According to George Lucas, the move came as it was time to "pass Star Wars on to a new generation of filmmakers." Disney gains rights to the Star Wars franchise and operating businesses, including live action film production, consumer products, animation, visual effects, and audio post production; Lucasfilm owns Lucasfilm Ltd., LucasArts, Industrial Light & Magic, and Skywalker Sound.