THR reports that George Lucas is prepping the entire Star Wars franchise in 3D conversions for re-release in 2012. Though the 3D versions have been rumored for some time, Lucas was apparently waiting until there were enough 3D screens available to make the release a sizable event.
Part 1, The Phantom Menace, will be first movie in theaters, in early 2012. After that, each films will be released in order at the same time each following year, depending on how well the first re-release does at the box office.
Each conversion takes at least a year to complete, with Lucas personally overseeing the process, having said that the Avatar experience convinced him that Star Wars was ready for a state-of-the-art 3D treatment. Also pushing the timetable is a potential breakthrough in 3D television technology, with Samsung introducing 3D-equipped televisions, and Sony planning to follow suit in the coming months.