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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) | |
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, more than 50 percent over its close. | |
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.” |