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DreamWorks Animation Is Bought by Comcast in $3.8 Billion Deal DreamWorks Animation Is Bought by Comcast in $3.8 Billion Deal
(35 minutes later)
The NBCUniversal unit of Comcast is buying DreamWorks Animation, a deal that will bolster an entertainment business that includes film, television and theme parks. Comcast is buying DreamWorks Animation in a $3.8 billion acquisition deal that will bolster an entertainment business that includes film, television and theme parks.
The deal, announced Thursday morning, will pay DreamWorks Animation shareholders $41 a share in cash, for a total value of $3.8 billion. The deal, announced Thursday morning, will pay DreamWorks Animation shareholders $41 a share in cash, more than 50 percent over its close.
The boutique studio, run by Jeffrey Katzenberg, will become part of NBCUniversal’s filmed entertainment group. The boutique studio, run by Jeffrey Katzenberg, will become part of the filmed entertainment group of NBCUniversal, which is owned by Comcast.
Last year, Comcast’s $45.2 billion proposed takeover of Time Warner Cable collapsed under regulatory pressure. This new deal represents a push to expand its entertainment portfolio.Last year, Comcast’s $45.2 billion proposed takeover of Time Warner Cable collapsed under regulatory pressure. This new deal represents a push to expand its entertainment portfolio.
“DreamWorks Animation is a great addition to NBCUniversal,” said Stephen B. Burke, NBCUniversal’s chief executive and senior vice president of Comcast. “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.”“DreamWorks Animation is a great addition to NBCUniversal,” said Stephen B. Burke, NBCUniversal’s chief executive and senior vice president of Comcast. “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.”