Comcast, owner of NBCUniversal, has acquired DreamWorks Animation for $3.8 billion, the media company announced Thursday.
- Comcast buys DreamWorks Animation in $3.8B deal
- Deal expected to be completed by end of 2016
- Includes catalog of animated films such as 'Shrek,' 'How to Train Your Dragon'
“DreamWorks Animation is a great addition to NBCUniversal,” said Steve Burke, CEO of NBCUniversal, in a news release. “(DreamWorks Animation CEO and co-founder) 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 park and consumer products businesses for years to come.”
A catalog of animated films come with the deal, including “Shrek,” “Madagascar,” “Kung Fu Panda,” and “How to Train Your Dragon.” Many see Comcast’s latest acquisition as a way to directly compete with rival The Walt Disney Co., which made its own share of billion dollar purchases (Marvel, Lucasfilms) in the past few years.
Katzenberg will become chairman of DreamWorks New Media.
As part of the acquisition agreement, DreamWorks Animation shareholders will receive $41 cash for each share. The deal is subject to antitrust approvals in the U.S. and abroad, but Comcast expects the deal to be completed by the end of this year.