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DreamWorks Animation Acquires AwesomenessTV

                 DreamWorks Animation Acquires AwesomenessTV

Groundbreaking Alliance Marks Digital Content Milestone

PR Newswire

GLENDALE, Calif., May 1, 2013

GLENDALE, Calif., May 1, 2013 /PRNewswire/ --DreamWorks Animation SKG,
Inc.(Nasdaq: DWA) today announced that it has agreed to acquire
AwesomenessTV, one of the most subscribed-to teen networks on YouTube. This
groundbreaking deal recognizes the growing value of digital content creation
and consumption.

(Photo: http://photos.prnewswire.com/prnh/20130501/LA05339)

With this deal, DreamWorks Animationwill acquire a thriving next-generation
media company, which though its Multi-Channel Network on YouTube has already
signed up over 55,000 channels, aggregating over 14 million subscribers and
800 million video views. In addition, the AwesomenessTV brand has recently
extended beyond the mobile platform into television and film, signaling
continued cross-platform expansion plans. As part of DreamWorks, Brian
Robbins, the founder andChief Executive Officer of AwesomenessTV,will
continue to growthe company, cultivating the brand's distinctive content.
In addition, Robbins will assume an executive role at the studio to develop a
DreamWorks Animation branded digital family channel, harnessing the studio's
resources, technology and vast IP portfolio.

The Company has agreed to acquire AwesomenessTV for total up-front
consideration of approximately $33 million in cash. In addition, subject to
the satisfaction of certain terms and conditions described in the definitive
merger agreement, the Company will be obligated to make additional contingent
cash payments from time to time if certain earnings targets are met in 2014
and 2015. The maximum amount of potential contingent consideration payable is
$117 million.

The transaction is subject to customary closing conditions. DreamWorks
Animation expects that the transaction will be completed during the month of
May 2013.

"Awesomeness TV is one of the fastest growing content channels on the internet
today and our acquisition of this groundbreaking venture will bring incredible
momentum to our digital strategy," said DreamWorks Animation Chief Executive
Officer, Jeffrey Katzenberg. "Brian Robbins has an extraordinary track record
in creating family content both for traditional and new platforms and his
expertise in the TV arena will be invaluable as we grow our presence in that
space."

"The acquisition of AwesomenessTV by DreamWorks Animation speaks to Jeffrey's
vision for the future of entertainment, the immense appetite for new kinds of
storytelling and the power and reach of YouTube," said Brian Robbins. "The
incredible opportunity to take all the resources of this amazing global brand
with beloved character franchises and create a dedicated family channel has
extraordinary potential – I can't wait to get started."

"In a very short time, Brian Robbins has built AwesomenessTV into a powerful,
next-generation, audience network on YouTube," said Robert Kyncl, Global Head
of Content for YouTube. "DreamWorks Animation's acquisition is symbolic of the
incredible evolution of online entertainment and continues the exciting
momentum of creators on the platform. I look forward to seeing the results of
this collaboration."

AwesomenessTV and Robbins were represented by United Talent Agency and Ziffren
Brittenham, who together incubated AwesomenessTV.

About DreamWorks Animation
DreamWorks Animation creates high-quality entertainment, including CG animated
feature films, television specials and series and live entertainment
properties, meant for audiences around the world. The Company has world-class
creative talent, a strong and experienced management team and advanced
filmmaking technology and techniques. DreamWorks Animation has been named one
of the "100 Best Companies to Work For" by FORTUNE® Magazine for five
consecutive years. In 2013, DreamWorks Animation ranks #12 on the list. All
of DreamWorks Animation's feature films are produced in 3D. The Company has
theatrically released a total of 26 animated feature films, including the
franchise properties of Shrek, Madagascar, Kung Fu Panda, How to Train Your
Dragon,Puss In Boots, and The Croods.

About Awesomeness TV
Awesomeness TV is one of the most subscribed to video destination for teens on
YouTube featuring a broad cross section of series built around pop musicians,
A-list athletes, TV personalities and YouTube stars. From talk shows to
sketch comedy, plus scripted and reality, series include IMO, Make Me Over,
Austin Mahone Takeover, Mindless Takeover, Flippin Awesome with Aly Raisman,
Awesomeness Hollywood, BOP Report and Runaways. Awesomeness TV allows fans to
experience their favorite celebrities in new ways, only on YouTube.
AwesomenessTV's first feature film was Mindless Behavior: All Around The
World, which it released with AMC Theaters. Its first TV series will air on
Nickelodeon. Awesomeness TV is headed by Brian Robbins (Smallville,Varsity
Blues, All That) and Joe Davola (In Living Color, Smallville, MTV Networks).
Robbins' interest in the YouTube and web video space resulted from the massive
success of FRED: THE MOVIE, based on the YouTube sensation Fred Figglhorn (900
million views). After building out the franchise on Nickelodeon (FRED 2: Night
of the Living Fred, FRED: THE SHOW, and FRED 3: CAMP FRED), Robbins turned his
attention to YouTube and the result is Awesomeness TV, one of the first
channels ideated in the YouTube Original Programming initiative.

United Talent Agency/Ziffren Brittenham
AwesomenessTV was represented in the transaction by United Talent Agency and
attorney Bryan Wolf of Ziffren Brittenham. In conjunction with Ziffren, UTA
helped Robbins establish AwesomesomeTV in 2010, providing key incubation
services including assembling its senior management team, negotiating its
YouTube deal and extensions, leading negotiations for the Series A round with
investors MK Capital and Greycroft Partners, providing brand strategy,
go-to-market counsel, as well as advisory services for its acquisition, which
represents one of the largest incubation-to-exit events conducted by a talent
agency. UTA CEO Jeremy Zimmer serves on the AwesomenessTV Board of Directors
and Wolf serves as a Board observer.

Caution Concerning Forward-Looking Statements
This document includes certain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. The Company's plans,
prospects, strategies, proposals and our beliefs and expectations concerning
performance of our current and future releases and anticipated talent,
directors and storyline for our upcoming films and other projects, constitute
forward-looking statements. These statements are based on current
expectations, estimates, forecasts and projections about the industry in which
we operate and management's beliefs and assumptions. These statements are not
guarantees of future performance and involve risks, uncertainties and
assumptions which are difficult to predict. Actual results may vary
materially from those expressed or implied by the statements herein due to
changes in economic, business, competitive, technological and/or regulatory
factors, and other risks and uncertainties affecting the operation of the
business of DreamWorks Animation SKG, Inc. These risks and uncertainties
include: satisfaction of closing conditions in the merger agreement, our
ability to integrate the operations of AwesomenessTV and exploit its portfolio
of properties, audience acceptance of our films, our dependence on the success
of a limited number of releases each year, the increasing cost of producing
and marketing feature films, piracy of motion pictures, the effect of rapid
technological change or alternative forms of entertainment and our need to
protect our proprietary technology and enhance or develop new technology. In
addition, due to the uncertainties and risks involved in the development and
production of animated feature projects, the release dates for the projects
described in this document may be delayed. For a further list and description
of such risks and uncertainties, see the reports filed by us with the
Securities and Exchange Commission, including our most recent annual report on
Form 10-K and our most recent quarterly reports on Form 10-Q. DreamWorks
Animation is under no obligation to, and expressly disclaims any obligation
to, update or alter its forward-looking statements, whether as a result of new
information, future events, changes in assumptions or otherwise.

SOURCE DreamWorks Animation SKG, Inc.

Website: http://www.dreamworksanimation.com
Contact: DreamWorks Animation Public Relations, Allison Rawlings,
+1-818-695-3278, allison.rawlings@dreamworks.com, or Matt Lifson,
+1-818-695-6576, matt.lifson@dreamworks.com, or DreamWorks Animation Investor
Relations, Shannon Olivas, +1-818-695-3658, shannon.olivas@dreamworks.com
 
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