Brace yourselves movie lovers – Star Wars Episode 7 is coming to a theater near YOU! That’s right, you read correctly. A new Star Wars movie will be released again — The only catch is that you will have to wait until 2015 for it.

So, how did this come about? The Walt Disney Company just purchased Lucasfilm Ltd. for $4 billion. As part of their press release for the major acquisition, the company stated: 

“Star Wars Episode 7 is targeted for release in 2015, with more feature films expected to continue the Star Wars saga and grow the franchise well into the future.”

Director George Lucas is giddy over this development and the fact that his legacy will live on. “For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation to the next.” He added, “It’s now time for me to pass Star Wars on to a new generation of filmmakers. I’ve always believed that Star Wars could live beyond me, and I thought it was important to set up the transition during my lifetime. I’m confident that with Lucasfilm under the leadership of Kathleen Kennedy, and having a new home within the Disney organization, Star Wars will certainly live on and flourish for many generations to come.”

During a conference call later in the day, Disney CEO Bob Iger said, “The expectation is we’ll release 2 and 3 [‘Episode 8’ and ‘9’] … probably on a cadence on every other year [after 2015], and then go from there. … The film is what I’ll call early stage development right now.”