'Star Wars 7' Will Hit Theaters in 2015: Who Should They Cast?

By:OK! Staff

Oct. 30 2012, Published 9:53 a.m. ET

Big news for big Star Wars fans!

OK! GALLERY: KRISTEN STEWART LANDS IN JAPAN FOR FIRST LEG OF TWILIGHT PROMOTIONAL TOURS

After a too long hiatus, Star Wars plans to make a triumphant return in 2015 with the seventh installment of the iconic franchise. Disney purchased Lucas Films for a little over $4 billion and will hit the ground running with a brand new Star Wars flick, executives say.

"For the past 35 years, one of my greatest pleasures has been to see Star Wars passed from one generation tot he next," George Lucas said in a statement."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."

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George goes on to praise Disney and mega producer, Kathleen Kennedy, saying he's certain his creation will "live on and flourish" under the helm of a new creative team.

In fact, much to George's delight, the new management plans to release a Star Wars film every two to three years.

OK! GALLERY: TWILIGHT FANS ALERT! THE ULTIMATE ROBERT PATTINSON AND KRISTEN STEWART PHOTO GALLERY!

Robert A. Iger, chairman and CEO, The Walt Disney Company, said there was "substantial pent up demand" for new flicks, with the company also revealed new partnerships with other media outlets as well as Parks and Resorts.