I expected to spend my shift today blogging about a disaster. I was right.

No, seriously, though, this is worth it if only for the material it’ll generate for the Red Letter Media guy.

Under the terms of the agreement and based on the closing price of Disney stock on October 26, 2012, the transaction value is $4.05 billion, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing. The final consideration will be subject to customary post-closing balance sheet adjustments…

“For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next,” said George Lucas, Chairman and Chief Executive Officer of Lucasfilm. “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.”…

Ms. Kennedy will serve as executive producer on new Star Wars feature films, with George Lucas serving as creative consultant. Star Wars Episode 7 is targeted for release in 2015, with more feature films expected to continue the Star Wars saga and grow the franchise well into the future.

Romney’s poll surge in October has suppressed my eeyore immune system and left me dangerously vulnerable to optimism, so let me take it to critical condition by co-signing this Lileks tweet:

I know, "fool me four times, shame on me," but I'm actually looking forward to Star Wars Ep VII. Finally move the story forward.

— James Lileks (@Lileks) October 30, 2012

Yeah, even after the prequels, I don’t think it’s a matter of “Star Wars” being irredeemable. It’s Lucas who’s irredeemable, and Lucas is now stepping back and handing over the keys. That’s … good, no? Disney being Disney, the danger that they’ll go full Jar Jar is clear and present, but “Star Wars” fans will spend the next three years screechily drumming it into their skulls not to do that. Given how universally loathed the prequels are, I expect Disney will want to make a statement by resurrecting the series with something much different, and better, than what came before. Nolan’s Batman series will hopefully/probably be a model for stripping away the grotesque excesses and getting back to the spirit that made the originals compelling. But I don’t know, maybe I’m giving them too much credit. Ben Domenech just tweeted a photo from this series and now I wonder if even Plinkett can save this.

Exit advice for Robert Iger and Kathleen Kennedy, on behalf of everyone everywhere: Put the Pixar people in charge.

Update: The first thing I thought of when I heard the news. Click the image to watch.

Update: Plinkett is on red alert.

No need to inform us of the Lucasfilm/Disney situation. We are aware. The internet imploded in on itself immediately after the announcement.

— Red Letter Media (@redlettermedia) October 30, 2012

Update: Lucas helpfully volunteers that he has story treatments prepared for not one, not two, but three more episodes, which I guess means there’s enough “magic” left in the prequel bottle to get us through Episode IX.

Dude, it’s game over.