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Comcast Buys DreamWorks Animation In $3.8 Billion Deal

1CK1S1CK1S Posts: 27,472 ✭✭✭✭✭
Comcast is about to get more animated. The company's NBCUniversal division is acquiring the DreamWorks Animation studio for roughly $3.8 billion.

On Thursday, Comcast (CCV) said shareholders in DreamWorks will receive $41 in cash per share of stock.

DreamWorks (DWA) shares closed at $32.20 on Wednesday afternoon.

Comcast said it expects the deal to pass regulatory muster and take effect by the end of the year.

Comcast said DreamWorks "will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango, and NBCUniversal Brand Development."

DreamWorks CEO Jeffrey Katzenberg will give up his leadership position. But he will remain involved with DreamWorks' ownership interests in two digital ventures: Awesomeness TV and NOVA. His title will be chairman of DreamWorks New Media.

Katzenberg will also be a consultant to NBCUniversal, the company said.

NBCUniversal CEO Steve Burke said "DreamWorks will help us grow our film, television, theme parks and consumer products businesses for years to come."

The Wall Street Journal first reported on the acquisition talks earlier this week.
I don't have dreams I have goals. Dreams are what you have when you are sleep. Goals are what you strive to reach when you are awake!


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