This report comes from the Official Star Wars Site!
Answered by: Steve Sansweet

Why haven't we seen the stars stretch into lines when a ship jumps to hyperspace in the prequel trilogy?

For the definitive answer, we turn to none other than George Lucas himself. Here's what he had to say:

"I think of the series as one movie. In order to keep the impact of the hyperspace jump in Episode IV, I have decided not to use it in the first three films. If you're watching them from one to six, you'll get the same thrill."

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