Published On: Wed, Apr 27th, 2016

KATZENBERG in Talks to Sell DREAMWORKS to COMCAST

The move comes after CEO Jeffrey Katzenberg has tried for years to sell the company.

DREAMWORKS Jeffrey Katzenberg

Jeffrey Katzenberg might have finally found a buyer for his DreamWorks Animation.

The Glendale animation company is in talks with Comcast to be sold for more than $3 billion, sources confirm to The Hollywood Reporter.

The potential acquisition would fold DWA into an entertainment conglomerate that controls key properties such as NBC, Telemundo, the USA network and Universal Studios. It also would be a strong fit for DWA, which has 19 animated television shows in production alongside blockbuster film franchises like Kung Fu Panda and Shrek.

The move would provide Katzenberg, CEO of the animation company, with a strong buyer after years of searching. In November, he held advanced talks with toymaker Hasbro about a possible tie-up after months earlier holding a round of discussions with Japanese telecommunications giant SoftBank. The mogul also has courted everyone from 20th Century Fox to various Chinese companies.

DWA declined to comment on the news, first reported by The Wall Street Journal, and a spokesperson for NBC Universal/Comcast also declined to comment.

A $3 billion offer would offer a decent premium for shareholders who have invested in a company presently worth $2.3 billion.

Read the full story at Hollywood Reporter, by Gregg Kilday

 

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