All this happened, more or less.

"We don't want to make movies. We're about to get into television. As far as Lucasfilm is concerned, we've moved away from the feature film thing, because it's too expensive and it's too risky.

"I think the secret to the future is quantity," Lucas told Daily Variety. "Because that's where it's going to end up."
http://www.variety.com/VR1117951284.html

George Lucas, Oct 4, 2006.