Comcast Buy DreamWorks Animations In $3.8 Billion Deal!
Roll on the animations. Comcast has officially bought DreamWorks Animations in $3.8 billion deal. The company's NBCUniversal division is acquiring the studio for the extortionate amount. Today Comcast had said that shareholders within DreamWorks will receive a $41 in cash per share of stock.
Comcast have said they are expecting the deal to pass regulatory muster and will come into effect by the end of 2016. Wall Street had applauded the deal, which sent the stock up as much as 24% this morning.
Comcast and DreamWorks are much smaller than Disney and Pixar but their intended ambitions are a lot similar. Comcast released this in a statement:
"DreamWorks will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango and NBCUniversal Brand Development." - Comcast
NBCUniversal CEO, Steve Burke added:
"Dreamworks will help us grow our film, television, theme parks and consumer products businesses for years to come." - Steve Burke
Of course DreamWorks is well known for the 'Shrek' franchise, 'Kung Fu Panda' franchise and of course the 'Madagascar' franchise. With DreamWorks contributing to theme parks, keep your eyes peeled for theme parks inviolving your favourite DreamWorks characters!
DreamWorks CEO, Jeffrey Katzenberg will be giving up his role in leadership. But he will stay within the DreamWorks and Comcast studios. Jeffery will be a consultant to the NBCUniversal.
In 1998 DreamWorks released their very first film called 'Antz'. DreamWorks is responsible for more than $5 billion in the North American box office. It's biggest film was 'Shrek 2' in 2004 which made a whopping $436 million in the U.S alone.