George Lucas - Representative: 'George Lucas Not Selling Disney Stock'
A representative for movie mogul George Lucas has played down reports suggesting the legendary filmmaker is planning to sell off his $2 billion Disney shares.
The director sold his LucasFilm company and the rights to his Star Wars movie franchise to the family entertainment giant for $4 billion last year (12) and received more than 37 million shares in Disney in exchange.
A regulatory court document was filed on Wednesday (06Feb13), acknowledging Lucas' permission to cash in on the stock in the future, however, LucasFilm spokeswoman Lynne Hale insists the filing was just a legal requirement.
Hale tells HollywoodReporter.com, "George does not currently have any plans to sell his Disney stock. This was a registration of ownership of stock in conjunction with the sale of LucasFilm to Disney. It was a required filing."