George Lucas has signed away his Star Wars film empire to Disney for $4.05 billion.
Commemorating the landmark contract signing on Wednesday morning, George said: "It's now time to pass Star Wars onto a new generation of filmmakers."
In an announcement alongside the purchase, Disney have also revealed plans to create a seventh episode in the film series.
Jed Burns, the founder of Jedi News, was ecstatic with the deal.
He said: "It is fantastic that we are going to be seeing more Star Wars films as George Lucas has said many times that there wouldn't be any more."
The iconic films, which have previously starred Harrison Ford, Ewan McGregor and Carrie Fisher, are loved by millions and there will be high hopes for the next installment in the billion dollar franchise.
Image. © BBC