Comcast to Buy DreamWorks Animation for $3.8 Billion DreamWorks Chief Executive Jeffrey Katzenberg will become chairman of DreamWorks New Media.

By Reuters

entrepreneur daily

This story originally appeared on Reuters

Reuters | Lucy Nicholson
Jeffrey Katzenberg, CEO of Dreamworks Animation.

Comcast Corp, the owner of NBCUniversal, said on Thursday it would buy DreamWorks Animation SKG Inc. for $3.8 billion.

The $41-per-share cash offer represents a premium of about 27 percent to DreamWorks' Wednesday close.

Trading in Dreamworks shares, which have gained nearly 50 percent in the last six months, was halted.

DreamWorks Chief Executive Jeffrey Katzenberg will become chairman of DreamWorks New Media, which will include the company's ownership interests in Awesomeness TV and NOVA.

Katzenberg will also serve as a consultant to NBCUniversal.

DreamWorks Animation, known for movie franchises such as Shrek and Kung Fu Panda, was spun off from DreamWorks Studios in 2004. The studio was founded in 1994 by Steven Spielberg, David Geffen and Jeffrey Katzenberg.

The Wall Street Journal first reported on Wednesday that Comcast was in talks to buy DreamWorks Animation for more than $3 billion.

(Reporting by Supantha Mukherjee and Rishika Sadam in Bengaluru; Editing by Saumyadeb Chakrabarty)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

This Gen Zer's Stylish Side Hustle Earns About $20,000 a Month and Paid Off His Parents' $200,000 Debt: 'I Enjoy the Hands-Off Nature'

Ray Cao went from working as a barista for $8 an hour to being a successful seller on online marketplace StockX.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Starting a Business

I Was a 25-Year-Old Nurse When I Started a Side Hustle to Combat Anxiety. It Made $1 Million in 7 Months — Then Sold for a Life-Changing Amount.

Sarah Michelle Boes knew there had to be a better way to prepare for her stress-inducing nurse practitioner's exam — so she created it.