With the amalgamation between itself and 21st Century Fox all but official, The Walt Disney Company is now shifting focus onto reclaiming another high profile intellectual property, Star Wars. The studio has already decided not to renew the deal that allows Netflix to screen the recent Star Wars movies when it ends later this year.
According to Bloomberg, Disney sold the TV rights to Turner in 2016, before it had announced its plans for the streaming service. However, the rights to screen the movies are now owned by Turner Broadcasting, and it has been reported that Disney wants them back.
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Turner acquired the rights from Disney for $275 million in 2016 to air on its cable networks, with the deal set to last until 2024.
According to Bloomberg, Disney inquired with Turner about a buyback but "met resistance" and desires "financial considerations and programming to replace the lost films".
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Now that Disney is looking to sell their streaming service to the public, having content like the movies from the Star Wars franchise could be a huge incentive, especially to Star Wars fans.
The deal Disney has with Turner is separate from Disney's Netflix agreement, which now allows Star Wars movies on the latter service. Disney's service will launch in 2019 and will include a live-action Star Wars series from Jon Favreau, a new season of Star Wars: The Clone Wars and more. It also wants the freedom to offer "Star Wars" movies on the service at will, one person said. In any case we have about a year or so to the streaming service is launched, so who knows, perhaps Disney could secure a deal by then.
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