Comcast in talks to buy DreamWorks animation for $3 billion-plus

gettyimages-514241660-h_2016

http://www.hollywoodreporter.com/news/comcast-talks-buy-dreamworks-animation-888070

Jeffrey Katzenberg might have finally found a buyer for his DreamWorks Animation.

The animation company is in talks with Comcast to be sold for more than $3 billion, a source confirms to The Hollywood Reporter after The Wall Street Journal first reported the news Tuesday. DWA declined to comment on the report and a spokesperson for NBC Universal/Comcast did not respond.

The move, which the Journal characterized as not being close to final, would provide Katzenberg, CEO of the animation company, with a strong buyer after years of searching. A $3 billion deal would be well above the current market value of $2.3 billion of DreamWorks Animation. Katzenberg previously was in talks with Japan’s Softbank and has courted everyone from 20th Century Fox to various Chinese companies.

DWA was formed in 1997 under parent company DreamWorks, which was created five years earlier by founded by Katzenberg, Stephen Spielberg, David Geffen and  Katzenberg. The animation studio was spun off as a separate company in 2004, with Katzenberg at the helm, and in 2006, it entered into a distribution deal with Paramount Pictures, which lasted until 2013, when DWA moved its distribution deal to 20th Century Fox, where it runs through the end of 2017.

News of the proposed deal comes several months after Spielberg’s reinvigorated DreamWorks Studios — now called Amblin Partners — signed a sweeping distribution deal with Comcast’s Universal Pictures.

Buying DWA would give Universal two of Hollywood’s leading animation studios, since it already owns Chris Meledandri’s Illumination Entertainment, home of the blockbuster Minions franchise. With both DWA and Illumination in-house, Universal could challenge Disney’s animation powerhouse combination of Pixar and Disney Animation. On the flip side, by adding DWA to its fold, Universal would have two animation studios competing for coveted release slots.

Katzenberg has steered the Glendale film studio through a number of financial challenges during the past few years as he has worked to diversify the company. He formed a joint venture in 2012 with Chinese companies to build a Shanghai-based studio, Oreintal DreamWorks, which was involved in the company’s latest animated movie, Kung Fu Panda 3, which has grossed $504 million worldwide since its Jan. 29 relase. In 2013, DWA also bought the YouTube channel Awesomeness TV and signed a mutli-year deal to provide original content to Netflix.

Meanwhile, DWA has been in the process of transforming its film operations after a series of box-offlice disappointments, like Turbo and Penguins of Madagascar, weighed on its quarterly results. DWA responded by cutting 500 jobs last year, closed an animation studio in Redwood City, and put new executives in charge of the film studio.

https://en.wikipedia.org/wiki/Jeffrey_Katzenberg

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clan of berg player in hollywood..or is that holy wood?

“DWA was formed in 1997 under parent company DreamWorks, which was created five years earlier by founded by Katzenberg, Stephen Spielberg, David Geffen and  Katzenberg. The animation studio was spun off as a separate company in 2004, with Katzenberg at the helm, and in 2006, it entered into a distribution deal with Paramount Pictures, which lasted until 2013, when DWA moved its distribution deal to 20th Century Fox, where it runs through the end of 2017.”

spot the non jew..its a trick question..

money makes money if you bat for the right team..

401

~ by seeker401 on April 30, 2016.

2 Responses to “Comcast in talks to buy DreamWorks animation for $3 billion-plus”

  1. The Madagascar penguins are masons ,back and white, transhumanist (married a tiki doll) and were the hidden planners of everything in the movie. They might even be aliens.

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