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The Comcast Center/Al DÍA File Photo 
The Comcast Center/Al DÍA File Photo 

Comcast acquires DreamWorks Animation

NBCUniversal, a division of Comcast Corporation announced earlier today that they have acquired DreamWorks Animation for $3.8 billion.

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NBCUniversal, a division of Comcast Corporation announced earlier today that they have acquired DreamWorks Animation for $3.8 billion. 

Under the terms of the agreement, the company said that it will pay $41 a share for the animation property that has produced movies such as “Shrek”, “Kung Fu Panda”, “How to Train Your Dragon” and a host of other animated classics. 

The studio will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango, and NBCUniversal Brand Development.

"DreamWorks Animation is a great addition to NBCUniversal," Steve Burke, CEO of the company said in a statement. "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.”

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The deal is set to be finalized by the end of the year. Once that happens, DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become Chairman of DreamWorks New Media, Katzenberg will also serve as a consultant to NBCUniversal.

"Having spent the past two decades working together with our team to build DreamWorks Animation into one of the world's most beloved brands, I am proud to say that NBCUniversal is the perfect home for our company; a home that will embrace the legacy of our storytelling and grow our businesses to their fullest potential," Katzenberg said. 

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