New update via Digital Bits:

UPDATE – 3 PM: Here are new and updated details on this deal from the official Disney investors’ conference call this afternoon:

Deal signed and announced earlier today – includes Star Wars franchise and all Lucasfilm operating businesses.

Indiana Jones franchise rights ARE also included in this deal.

First project under the joint under Disney/Lucas partnership will be Star Wars: Episode 7 in 2015, followed by Episode 8 and Episode 9.

Disney purchased “extensive and detailed” treatment for at least Episode 7 (and possibly Episodes 8 and 9 as well) as part of this deal which they “feel very good about.”

Disney long term plan is to release a new live-action Star Wars film every 2-3 years – films may eventually explore entire 20,000 year time-span of the franchise.

Lucas will serve as creative consultant on new Star Wars films. Kathleen Kennedy will executive produce.

Kennedy will serve as Lucasfilm president, reporting to Bob Iger at Disney.

Disney plans to expand Star Wars brand into many new product categories and internationally.

Star Wars brand will also be expanded into Disney parks, games and TV businesses.

Deal was 50% cash and 50% stock – $4.05 billion

Disney believes Lucasfilm value is comparable to value of Marvel, but valuation is only based on Star Wars alone – other Lucasfilm intellectual properties are in addition to this.

Whew! Stay tuned…

Dear god. And the fact that there was an actual EP. VII treatment included says volumes.

Star Wars on the goddamn Disney Channel. Can my day get any worse???