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Comcast acquires DreamWorks Animation Studio for $3.8 bn
MUMBAI: Comcast is acquiring DreamWorks Animation studio, the maker of ‘Shrek’ and Kung Fu Panda, for around $3.8 billion.
Comcast’s NBCUniversal division is making the acquisition. DreamWorks will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango and NBCUniversal Brand Development.
DreamWorks’ shareholders will receive $41 in cash per share of stock.
“DreamWorks will help us grow our film, television, theme parks and consumer products businesses for years to come,” said NBCUniversal CEO Steve Burke.
The deal, subject to regulatory approval, will bring value to Comcast in terms of movies, amusement park integrations and merchandise.
DreamWorks CEO Jeffrey Katzenberg will no longer lead the company. He will be a consultant to NBCUniversal.