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Important Star Wars Update -- As the greatest surprise shock in life thus far, The Walt Disney Company has bought Lucasfilm including Star Wars and Indiana Jones for approximately $ 4 BILLION U.S. dollars. The future of Star Wars is now controlled by Disney. This means Star Wars remakes of A New Hope, The Empire Strikes Back and Return of the Jedi are a possibility since Disney has the necessary resources to finance new versions of the Star Wars classic trilogy. However, it might be many years before remakes of classic Star Wars can happen because Disney is planning to release Star Wars Episode 7 in 2015. The plan for Disney is to release a new Star Wars movie every two to three years, which results in the Star Wars remake films being a decade or more into the distant future.
Previous Star Wars Remake Update Prior to Disney Acquiring Star Wars and Lucasfilm -- After George Lucas completed the Star Wars Special Editions in 1997, George Lucas was planning to remake the Star Wars movie episodes of Star Wars Episode 4 5 6 (A New Hope, The Empire Strikes Back and Return of the Jedi) when photo realistic computer animation became inexpensive and affordable.
In the present day with current computer technology, Industrial Light and Magic (ILM), the special effects company wholly owned by only Disney and Disney alone, estimated the production budget costs of the Star Wars remakes to be approximately $ 200 million U.S. dollars per each classic Star Wars movie episode in a 100 percent photo realistic digitally animated version.
Additionally, promotional advertising and movie distribution expenses in theaters would be roughly $ 150 million U.S. dollars to rerelease the three Star Wars classic films back in theaters again. In total, it would cost Lucas roughly $ 750 million U.S. dollars to produce remakes of the original Star Wars movies.
Given Lucasfilm is a corporation, which must constantly earn excessive profits in order to stay in business, Lucas can't invest this enormous amount of money in 30 plus year old Star Wars films with limited box office potential with current cinema audiences. Yet the visionary Lucas has spoken about this matter with his children and Lucas has told them that by the year 2035 the visual special effects technology should exist to produce cheap versions of the Star Wars saga episodes at a very, very extremely low price.
However, after the massive success of the Avatar movie by James Cameron in 2009, George Lucas abandoned the concept of the Star Wars remakes and the remaking of Star Wars in order to focus on making Star Wars 3D versions of all the Star Wars film episodes. Lucas has absolutely no plans to have Star Wars remakes of the Star Wars prequel trilogy of The Phantom Menace, Attack of the Clones and Revenge of the Sith with advanced computer animation because these Star Wars movies are beyond perfect and infinitely awesome based on the unlimited genius vision of George Lucas.
In the end, George Lucas doesn't believe digital computer animation will have a sufficiently low enough price for the Star Wars remake project to happen during the present life time of George Lucas. If the Star Wars remakes happen, it will be at least 25 years into the far unknown future many, many years after Lucas permanently enters the greatest mystery realm for what remains of never ending eternity.
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