Disney Streaming Service to Launch 'Star Wars' Live-Action TV Series

21st Century Fox has been holding talks to sell most of the company to Disney: Sources

21st Century Fox has been holding talks to sell most of the company to Disney: Sources

Disney has closed a deal with director Rian Johnson to develop a new “Star Wars” trilogy, and it is planning a live-action “Star Wars” TV series to air on its entertainment streaming service that is expected to launch by the end of 2019.

Chief Executive Robert Iger disclosed new details on coming streaming services and the Star Wars film franchise as the company reported declines in three of its four core businesses for its latest quarter. Disney has revealed that it plans to go forward with an original Star Wars series for its now unnamed streaming platform that will launch in 2019.

Iger and Disney officials also sidestepped any comments on news reports from earlier in the week that Disney had been in talks with Fox to buy some of its assets including the movie studio.

"I can say that our plan on the Disney side is to price this substantially below where Netflix is", Iger said in a company call to discuss annual earnings. Broadcast revenue of $1.51 billion missed Wall Street's target of $1.69 million, and Disney's theme parks posted revenue of $4.67 billion, just missing expectations of $4.70 billion.

Earlier Thursday, Disney-owned Lucasfilm announced that Rian Johnson, writer/director of the Star Wars: The Last Jedi (in theaters December 15), will create a new Star Wars movie trilogy. " 'Star Wars" is the greatest modern mythology and we feel very lucky to have contributed to it.

Will you subscribe to the Disney streaming service when it launches?

In the final minutes of trading on Thursday, shares hit $102.68, an increase of 8.5 percent in the last 12 months. And higher costs for sports programming cut into media networks' revenue.

Broadcast income was down 15% to $229 million, as revenue fell11% to $1.514 billion.

Analysts had been expecting earnings of $1.12 per share; instead, Disney reported earnings of $1.07 per share. Revenue were down 3% to $5,465 billion.

ABC's broadcasting business was down 11% to $1.5 billion.

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