Yesterday it was announced that Disney had acquired LucasFilm for $4.05 Billion USD. But perhaps more noteworthy was the announcement that the corporation has concrete plans to make a 7th installment to the legendary Star Wars franchise. Although it was divulged that the film is to be released in 2015, there are few other details available surrounding the films’ content and how it will differ now that it is out of the creative hands of George Lucas. As expected, this has already sparked widespread debate regarding the necessity and intentions of a new Star Wars film. Ultimately, it cannot be overstated how important a franchise and culture Star Wars has become since the first Star Wars, now known as Episode IV: A New Hope, was released in 1977. In the clip above, Lucas describes his rationale for handing over his studio to Disney, concluding that Disney’s strength as a corporation, one that is diverse and multifaceted, will ultimately lead to an even stronger Star Wars culture for generations to come.