Published: Oct 30, 2012 3:59 PM EDT
Updated: Oct 31, 2012 6:31 AM EDT

LOS ANGELES (AP) - Disney says it is buying 'Star Wars' maker Lucasfilm for $4.05 billion from George Lucas.

In a statement announcing the deal Tuesday, Lucas says, "It's now time for me to pass 'Star Wars' on to a new generation of filmmakers."