Well...this is not good news.
Disney has announced that they have closed LucasArts and all publishing and developing wings of the company in an order to move to a licensing model.
Here's the official statement on the matter from Disney:
"After evaluating our position in the games market, we've decided to shift LucasArts from an internal development to a licensing model, minimizing the company's risk while achieving a broader portfolio of quality Star Wars games. As a result of this change, we've had layoffs across the organization. We are incredibly appreciative and proud of the talented teams who have been developing our new titles."
According to a source close to Kotaku, 150 people were laid off, and both of the studio's current projects - Star Wars: First Assault and Star Wars 1313 have been cancelled.