So I was at D23 this past weekend and attended a small presentation on restorations of Disney films. After the presentation I was talking to the guy privately and mentioned Star Wars and what the deal is with a possible release and restoration. His response was "At least for A New Hope, that decision lies entirely with Fox."

Now, this doesn't tell us much, but what it tells me is that an official release IS possible, and that there isn't some detail in the contract put in by Lucas that Disney can never release the original versions as some people on this forum have speculated. If that was the case this guy wouldn't have even entertained the notion of it.