DreamWorks Animation Bought By Comcast’s NBCUniversal
Comcast’s NBCUniversal unit said it acquired DreamWorks Animation, which creates films and television series.
DreamWorks Animation stockholders will get $41 in cash for each of their shares. The deal values DreamWorks Animation at about $3.8 billion.
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DreamWorks Animation CEO and cofounder Jeffrey Katzenberg will become chairman of DreamWorks New Media, which includes AwesomenessTV and NOVA. Katzenberg will also serve as a consultant to NBCU.
"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.”
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“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,” Burke added. “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 film franchises includes Shrek, Madagascar, Kung Fu Panda and How to Train Your Dragon.
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The transaction is expected to close by the end of the year.
"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."
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.