CNBC has reported via twitter that Disney has purchased Lucasfilm for $4 billion in cash and stock. Current LucasFilm co-chair Kathleen Kennedy will become president of LucasFilm.

As a result, a new Star Wars film is planned for 2015: Star Wars: Episode VII. This is to be followed with future Star Wars feature films “every two to three years,” with George Lucas acting as creative consultant.

Here’s what Star Wars and LucasFilm creator George Lucas had to say:

For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next. 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. 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.

(via The Hollywood Reporter, Slash Film)