Photo album maker’s $100 million deal to bring Disney back to Australia

Aug 2, 2021 Project

Photo album makers in Australia have been hit hard by the Disney-owned film studio’s decision to sell off its Hollywood Studios assets.

Photo: Supplied The Disney-run studio has been trying to revive its Hollywood studios in Australia, where it has made a fortune in the film business.

The move has also meant it is taking the assets of the Walt Disney Studios in Melbourne, in Victoria’s south, and plans to relocate them to Tasmania.

Photo : Supplied Photo: ABC It is the latest blow to the industry as Disney’s $5 billion takeover of Lucasfilm has also been facing a wave of criticism for a lack of investment in film.

But a deal for Disney to buy Lucasfilm was reported to be worth more than $100 billion.

“Disney and Lucasfilm have made great strides together in the years since we first announced our plan to acquire Lucasfilm,” Disney chairman and CEO Bob Iger said in a statement.

Mr Iger also said the studio would remain “at the forefront of the future of animation”, adding it was “critical” for Lucasfilm to “receive the extraordinary talent that we will bring to our worlds.” “

We look forward to the continued success of both companies.”

Mr Iger also said the studio would remain “at the forefront of the future of animation”, adding it was “critical” for Lucasfilm to “receive the extraordinary talent that we will bring to our worlds.”

The news of the sale was first reported by the Australian Financial Report on Friday.

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