It's a long official statement so I'll just link to the main press release
Disney will now own Lucasfilm and all of its subsidiaries (ILM, Skywalker Sound, LucasArts)
Also, Disney now own the Star Wars license and Episode 7 will be arriving by 2015
QotD from Simon Pegg: "Does this mean Leia is now a Disney princess? She'll have to go get her nails done with Ariel and lend Pocahontas her metal bikini."
Well, I suppose they can't make the films any worse than the prequel trilogy.
this is actually true
except George Lucas is still a consultant
so...I'm not holding my breath