Comcast Corp. has set a deal to buy DreamWorks Animation for $3.8 billion.
The studio will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango, and NBCUniversal Brand Development.
The transaction is expected to close by the end of 2016, subject to receipt of antitrust approvals in the US and abroad.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
Following the completion of the transaction, DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become chairman of DreamWorks New Media, comprised of Awesomeness TV and NOVA. Katzenberg will also serve as a consultant to NBCUniversal.
“DreamWorks Animation is a great addition to NBCUniversal, ” said Steve Burke, CEO of NBCUniversal.
“Jeffrey Katzenberg and the DreamWorks organization have created a dynamic film brand and a deep library of intellectual property. DreamWorks will help us grow our film, television, theme parks and consumer products businesses for years to come.
“We have enjoyed extraordinary success over the last six years in animation with the emergence of Illumination Entertainment and its brilliant team at Illumination Mac Guff studio. The prospects for our future together are tremendous. We are fortunate to have Illumination founder Chris Meledandri to help guide the growth of the DreamWorks Animation business in the future.”
DreamWorks Animation stockholders will receive $41 in cash for each share of DreamWorks Animation common stock. The agreement has been approved by the boards of directors of DreamWorks Animation and Comcast, and the controlling shareholder of DreamWorks Animation has approved the agreement by written consent.
“Having spent the past two decades working together with our team to build DreamWorks Animation into one of the world’s most beloved brands, I am proud to say that NBCUniversal is the perfect home for our company; a home that will embrace the legacy of our storytelling and grow our businesses to their fullest potential, ” said Katzenberg.
“This agreement not only delivers significant value for our shareholders, but also supports NBCUniversal’s growing family entertainment business. As for my role, I am incredibly excited to continue exploring the potential of AwesomenessTV, NOVA and other new media opportunities, and can’t wait to get started.”
Dreamworks’ franchises include Kung Fu Panda, Shrek, and How To Train Your Dragon.
READ MORE: DreamWorks
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 More…
Oscar-winning director Steven Spielberg will reportedly part ways with Disney after the release of next summer’s “The BFG”. Source told The Hollywood Reporter that “The BFG”, based on the Roald More…
The Hollywood Reporter has revealed that DreamWorks has won a bidding war for the rights to “Alpha Squad Seven”, a sci-fi action comedy pitch that has Dwayne Johnson attached to star. Jeremiah More…
DreamWorks Studios is negotiating to partner with billionaire e-Bay co-founder Jeff Skoll’s Participant Media, The Hollywood Reporter has exclusively reported. The deal, it is said, will bring the More…
An antitrust suit brought by animation workers against DreamWorks Animation, Disney and a number of other companies has been thrown out of court by a federal judge. U.S. District Judge Lucy Kohl ruled last week More…
A class action lawsuit over securities fraud filed against DreamWorks Animation has been thrown out by a federal judge. The suit was brought over alleged improprieties surrounding the company’s write down of More…
DreamWorks Animation has gotten some badly needed good news this week. Its stock rose after the unexpected strong showing at the box office of its latest release “Home.” On Monday DreamWorks Animation’s shares More…
