Comcast to Acquire DreamWorks Animation for $3.8 Billion
- Cable giant to take over `Shrek,' `Kung Fu Panda' studio
- Comcast to bolster lineup for children in theaters, online
Comcast Acquiring DreamWorks in $3.8 Billion Deal
Comcast Corp., the parent of Universal Pictures, agreed to buy DreamWorks Animation SKG Inc. in a deal valued at $3.8 billion, building on the studio’s film and TV franchises by adding characters like “Shrek” as well as a U.S.-based production house.
Comcast will pay $41 a share in cash for the animation studio, according to a statement Thursday. DreamWorks Animation co-founder and Chief Executive Officer Jeffrey Katzenberg will mostly step aside, remaining a consultant to Comcast’s NBCUniversal division and becoming chairman of DreamWorks New Media, which includes the company’s ownership interests in AwesomenessTV and Nova. Chris Meledandri, the founder of Universal Pictures’ Illumination Entertainment, will run the combined animation business, Comcast said.