Ahoy, squirts. Quint here. We've been getting lots of emails about the Variety story that ran today about Lucasfilm's retreat from theatrical distribution. Everybody seems to be going crazy, but when you read the article, it's more about Lucas thinking outloud about the risks of making $200 million films. He says he can make 50-60 2 hour "movies" for television or downloadable media (which he calls pay per view) for the same price as one big movie.

He says all that and then says the below about all the feature films Lucasfilm has in the pipeline, including RED TAILS, about the Tuskeegee airmen. Here's what he said:

That doesn't mean Lucasfilm is diving into online distribution, though. "Having had a lot of experience in this area, we're not rushing in," he said. "We're trying to find out exactly where the monetization is coming from. We're not interested in jumping down a rat hole until such time as it finally figures itself out."

Nor is Lucasfilm's exit from features instant or absolute. "Indiana Jones 4" is still in development. "Steve (Spielberg) and I are still working away, trying to come up with something we're happy with. Hopefully, in a short time, we will come to an agreement. Or something," Lucas said, without a great deal of enthusiasm.

And Lucas Animation does plan to start making feature films -- eventually. "Right now we're doing television, which looks great. I'm very, very happy with it," he said of his toon division. "And out of doing the animation, we're getting the skill set and the people and putting the studio in place so we can do a feature. But it's probably going to be another year before we have the people and the systems in place to do a feature film."

Lucas admitted the big-budget strategy has done well for him in the past, but said, "We're not going to do the $200 million investments." He calls himself "semi-retired" but reiterated his plans to direct "small movies, esoteric in nature," after his other projects are launched. He expects to serve as exec producer on the two features and the TV shows, including a live-action "Star Wars" skein.

I have been very critical of the prequels, but I would really love to see Lucas working at something he's passionate about again. He's a brilliant storyteller when his heart is in it and if he wants to make these esoteric, small movies, that's great. Having said that, if he really comes off as not caring about INDY 4 as the article suggests, why doesn't he trust his friend, Steven Spielberg, who is passionate about making the next film? That way he can focus on holding the hand of the Star Wars TV show and directing his own small movies. At least those are my thoughts. What are yours?