So does Disney have the rights to this now?
I would think almost certainly so, although I doubt they’ll ever do anything with it.
They’re planning an animated series about the holographic soft core porn chick that Itchy was watching.
The Bobba Fett cartoon from the special has appeared as an extra on couple things released by LucasFilms, so I’m pretty sure they, and not CBS, own the rights to the Holiday Special. In which case Disney would own it now.
I wouldn’t be surprised if they stuck it on a DVD as an extra someday, but given Lucas’s well known hatred of the thing, probably not until after he’s dead.
C3PO: No, Chewie, no, don’t stuff Goofy up the Christmas tree! Oh, my!
Darth Vader: [breath] From all of us to all of you, a Very Merry Christmas! [breath]
Jar Jar Binks: Me no understand, Mr. Duck?
Donald Duck: ##*!! @^&!@@! %!!
Jar Jar Binks: Oh, me get that a lot!
Hey, my money’s just as green as anyone else’s.
In a repeat of history, Carrie Fisher will have to get high as a freakin’ kite just to appear on the show.
I will pay any amount of money to see an annual Life Day Parade at Disneyland.
Whereas I would pay any amount of money to see George Lucas’ reaction when they ask him to be the Grand Marshal.
And countless people would have to get just as high to finish watching the damned thing.
And drug dealers everywhere celebrate another Life Day miracle!
A remake just wouldn’t be the same without at least one reference to, “Fight the frizzies - film at 11”.
LOL - I tried watching the Christmas Special. I couldn’t finish it.
I wouldn’t be surprised if the deal included a clause never to release it, considering how much Lucas (and the rest of the world) hates it. 
Yes, this is one of those rare cases where “it’s so bad it’s good” does not apply. The Star Wars Holiday Special was so bad, it was terrible.
How bad could it be, really? Are we talking episode I levels of awfulness?
I kind of want to see it.
Sometimes when we have someone new at movie night we watch the Holiday Special. It’s much, much worse than Episode 1.
Edited to add: http://www.dailymotion.com/video/xn5gsj_the-star-wars-holiday-special_shortfilms#.UY3e_LU-by4
It’s epic-level bad. A local group has a copy and shows it each year as a Toys for Tots fundraiser (technically giftraiser, I guess). I saw it last year, having not seen it since the original airing in 1978. It’s shockingly bad.
Most of the first 10 minutes is in Wookiee without subtitles. Somebody forgot to tell the writers that “Chewie” was short for “Chewbacca” so his family consists of his wife Mala, dad Itchy and son Lumpy. The costumes for the other Wookiees are baggy, and they get a lot of screen time so you get a really good look at them.
It’s mostly a bunch of vignettes with a loose framing story about Chewie trying to make it home for “Life Day”. It has Art Carney, Bea Arthur and Harvey Korman in it, along with Starship (not Jefferson Starship, just Starship), a transcendentally weird sequence with Diahann Carroll doing a sex tape for Itchy, and more.
It’s an experience worth having, but XKCD captured it very well: xkcd: So Bad It's Worse
Bad. I couldn’t finish watching it and I’m a huge Star Wars fan. It’s not even fun to make fun of it while you watch.
Yeah, all the stars are obviously ad-libbing. Art Carney is wretchedly awkward and unfunny. Bea Arthur is horrid… although probably the best of the guest stars. Harvey Korman has two of the worst skits I’ve ever seen ever, anywhere. The stuttering robot and cooking show bits are so upsetting I want to shit on his grave.