"Part 1, "The Phantom Menace," would be first out of star-dock in the early months of 2012. After that, each of the films would be released in order at the same time each consecutive year, depending on how well the first re-release does.
Each conversion takes at least a year to complete, with Lucas personally overseeing the process to make sure each one is as perfected as possible. Lucas has said that the "Avatar" experience convinced him that "Star Wars" was ready for the state-of-the-art 3D treatment." [Gizmodo]
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