Comcast Corp, the owner of NBCUniversal, said on Thursday (April 28) it would buy DreamWorks Animation for $3.8 billion.
The $41-per-share cash offer represents a premium of about 27 percent to DreamWorks’ Wednesday close.
Trading in Dreamworks shares, which have gained nearly 50 percent in the last six months, was halted.
The NBC and Comcast logo are displayed on top of 30 Rockefeller Plaza, formerly known as the GE building, in midtown Manhattan in New York July 1, 2015. REUTERS/Brendan McDermid
DreamWorks Chief Executive Jeffrey Katzenberg will become chairman of DreamWorks New Media, which will include the company’s ownership interests in Awesomeness TV and NOVA.
Katzenberg will also serve as a consultant to NBCUniversal.
Comcast’s acquisition of DreamWorks Animation will add to Universal’s film library with major children’s’ franchises such as “Shrek” and “Kung Fu Panda,” which it could tap for its theme parks and consumer products’ businesses.
DreamWorks Animation, known for movie franchises such as “Shrek” and “KungFu Panda”, was spun off from DreamWorks Studios in 2004. The studio was founded in 1994 by Steven Spielberg, David Geffen and Jeffrey Katzenberg.
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