NBCUniversal has agreed to buy DreamWorks Animation for $3.8bn, following which the studio will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango and NBCUniversal Brand Development. The deal will bring together the makers of Despicable Me and Minions with Shrek studio and the makers of Kung Fu Panda, creating a formidable force to rival […]
NBCUniversal has agreed to buy DreamWorks Animation for $3.8bn, following which the studio will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango and NBCUniversal Brand Development.
The deal will bring together the makers of Despicable Me and Minions with Shrek studio and the makers of Kung Fu Panda, creating a formidable force to rival Disney.
NBCUniversal said the agreement has been approved by the boards of Dreamworks and NBCUniversal owner Comcast as well as the controlling shareholder of Dreamworks. The deal is expected to close by the end of this year.
DreamWorks Animation is a great addition to NBCUniversal. DreamWorks will help us grow our film, television, theme parks and consumer products businesses for years to come, said Steve Burke, NBCU Chief Executive.
Following the completion of the transaction, DreamWorks Animation CEO and Co-Founder Jeffrey Katzenberg will become chairman of DreamWorks New Media, which will comprise the companys ownership interests in Awesomeness TV and NOVA. Katzenberg will also serve as a consultant to NBCUniversal.
Katzenberg pronounced the deal “perfect” for DreamWorks.
“I rest easy in knowing that the house of dreams that we’ve spent the last two decades building together the stories, the characters, the joy and the laughter has found the best possible home,” he said.
Katzenberg launched DreamWorks with Steven Spielberg and David Geffen in 1994, and the animation studio branched off as a public company in 2004.
