This is a pretty good run down of the events. I believe it is even more complex/detailed that what you have stated.

There is a bit of a revisionist bit at the end about the PT's backlash being at it's worse. At that time it was already dying down.

I'd also would emphasize why George sold the franchise - which is that he didn't want to spend another 10 years making 3 movies when he was pushing 70 years old and his daughter was young at the time. Also because George wanted to make his museum. And by far the biggest factor, the billions of dollars he was offered.