Lucas, an icon in the industry known for exercising control over the most-minute details of the fictional universe he created, will remain a creative consultant on the new films, although in the video interview he cast the sale as part of a long-held personal desire to exit the mainstream film industry.
Lucas said: "It's now time for me to pass 'Star Wars' on to a new generation of filmmakers." He will become the second-largest individual holder of Disney shares, with a 2.2 percent stake.
Disney will pay about half the purchase price in cash and issue about 40 million shares at closing.