Release Date Of “Star Wars: Episode VII” Revealed

Release Date Of “Star Wars: Episode VII” Revealed

Disney announced recently that “Star Wars: Episode VII” will be released on December 18, 2015. The release date followed reports indicating that the creative team of the company preferred the movie to be released in the summer of 2016 while Disney head, Bob Iger, preferred a 2015 summer release. It appeared that the final release date of the movie showed concessions in both sides.

Iger said that the release date will give the creative team the opportunity to produce a great movie. He also indicated that the release date for “Star Wars: Episode VII” is the same release date of Avatar in 2009. The Star Wars franchise was acquired by Disney last year from George Lucas for around $4.05 billion.

The announcement of the release date of “Star Wars: Episode VII” came as Disney announced record results in its fiscal year and an increase of revenues for the fourth quarter. The net income of the company also increased for the quarter and the year.

Iger indicated that the company was pleased with the results of the 2013 fiscal year. He indicated that the company is well-positioned to maintain its strong performance and encourage long-term value for its shareholders.

The biggest segment in terms of operating income and revenue of Disney is Media Networks. It contributed $4.9 billion for the quarter and $20.4 billion for the year.

Disney also revealed that attendance records at Walt Disney World set new records. The Parks and Resorts division of the company is the second-biggest revenue earner for the company, earning $3.7 billion for the quarter and $14 billion for the year. On the other hand, Studio Entertainment increased its revenues by 3 percent following the release of the box office hit movie, “Iron Man 3.”

However, the Interactive division of the company finished in the red for the year as it lost $87 million. Despite this, its income was positive for the fourth quarter with $16 million, which is higher than the negative $76 million in the same period last year.

Even as the release date for “Star Wars: Episode VII” was released, shares of the company declined by 2.68 percent as trading ended for the day.

Posted by Kade Quinn on Friday November 08 2013, 6:43 AM EST. Ref: Forbes. Link. All trademarks acknowledged. Filed under Entertainment, Featured News. Comments and Trackbacks closed. Follow responses: RSS 2.0