Disney plans 'Star Wars,' 'Frozen' sequels

Walt Disney plans to release new installments in both the "Star Wars" and "Frozen" film franchises, the company said on Thursday.

CEO Bob Iger, speaking at Disney's annual shareholder meeting, said the eighth installment in the sci-fi series will come out on May 26, 2017. While it didn't point to a specific release date, the media giant also confirmed that it is working on a sequel to the 2013 animated hit "Frozen."

Disney shares were trading nearly 4 percent higher on Thursday afternoon.

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Disney said that a spinoff from the "Star Wars" franchise set for release in December 2016 will be called "Rogue One." The seventh film in the franchise, titled "The Force Awakens" is set to hit theaters this December.

The Millennium Falcon and TIE fighters as seen in the “Star Wars: The Force Awakens” teaser.
Lucasfilm
The Millennium Falcon and TIE fighters as seen in the “Star Wars: The Force Awakens” teaser.

The first of the series' six feature films came out in 1977, while the most recent was released in 2005. Disney bought Lucasfilm—and the rights to "Star Wars"—in 2012.

The brand has spawned numerous spinoffs, including television series, video games and books.

"Frozen" has become one of Disney's most popular franchises since its release. It grossed more than $1 billion worldwide.

In an earnings call last month, Iger touted the film's positive effect on the media giant.

"A full year after its release we're seeing the true impact of 'Frozen' across our entire company," he said at the time.

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The film has spawned toys, theme park attractions and even a mobile game. Mattel—a vendor of "Frozen" toys—jumped more than 4 percent on Thursday.

Hasbro, which will sell "Frozen" dolls starting next year, was up more than 1 percent after sluggish trading earlier in the day.

"Frozen" star Kristen Bell reacted to the sequel announcement in a tweet.

— CNBC's Julia Boorstin contributed to this report