Since the announcement that Disney had purchased Lucasfilm and its assets, including the Star Wars and Indiana Jones franchises, there has been much speculation as to what would happen with the films, and who would be on board.
Abrams has famously directed the reboot to the Star Trek franchise and has created, or co-created, many T.V series, including Lost, Alias and Fringe, as well as directed Mission Impossible III, which was arguably the best Mission Impossible film, so he seems capable of rising to the task of directing the newest Star Wars.
George Lucas, creator of the Star Wars franchise, has stated that the film "couldn't be in better hands", and said of Abrams, that he was the "ideal choice".
Michael Arndt, who wrote the screenplay for Toy Story 3 is also signed on to write the script for the film, and Lawrence Kasdan, who wrote The Empire Strikes Back and Return of the Jedi, is signed on as a consultant for the project.
Lucas has also said that he's been "consistently been impressed with J.J. as a filmmaker and storyteller. He’s an ideal choice to direct the new Star Wars film and the legacy couldn’t be in better hands.”
Abrams' long time producing partner Bryan Burk, and Bad Robot are on board to produce along with Kathleen Kennedy under the Disney | Lucasfilm banner.
The film is set to be released in 2015.