Comcast Buys DreamWorks Animation For $3.8 Billion
NBCUniversal is buying DreamWorks Animation for $3.8 Billion. The company made the announcement Thursday morning.
“DreamWorks Animation is a great addition to NBCUniversal,” said Steve Burke, NBCUniversal CEO. “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. We have enjoyed extraordinary success over the last six years in animation with the emergence of Illumination Entertainment and its brilliant team at Illumination Mac Guff studio. The prospects for our future together are tremendous. We are fortunate to have Illumination founder Chris Meledandri to help guide the growth of the DreamWorks Animation business in the future.”
The deal is expected to close by the end of the year. DWA marks the latest investment in a major entertainment content engine by NBCU parent Comcast, the cable giant that took over the Peacock from GE in 2011.
“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. “This agreement not only delivers significant value for our shareholders, but also supports NBCUniversal’s growing family entertainment business. As for my role, I am incredibly excited to continue exploring the potential of AwesomenessTV, NOVA and other new media opportunities, and can’t wait to get started.”
Amazing how all these companies just keep on shifting hands through the years.