Comcast Buys DreamWorks in $3.8 Billion Deal

Comcast Buys DreamWorks in $3.8 Billion Deal
In this Thursday March 20, 2014, file photo, Jeffrey Katzenberg, CEO of DreamWorks Animation, speaks in Shanghai. AP Photo
Petr Svab
Updated:

The world’s largest media company, Comcast, just acquired DreamWorks, the second best animated film studio in the world behind Pixar. 

Comcast’s NBCUniversal paid $3.8 billion for DreamWorks, the studio known for franchises “Shrek,” “Kung Fu Panda,” and “How to Train Your Dragon,” and winning 3 Academy Awards and 11 nominations.

“DreamWorks Animation is a great addition to NBCUniversal,” said NBCUniversal CEO Steve Burke. “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.”

DreamWorks CEO Jeffrey Katzenberg is being moved out of the company’s main business, which may suggest a directional change for DreamWorks. Katzenberg has been a prominent figure in movie production since the late 1970s.

“DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become chairman of DreamWorks New Media, which will be comprised of the company’s ownership interests in Awesomeness TV and NOVA,” reads the Comcast press release. “Katzenberg will also serve as a consultant to NBCUniversal.”

NOVA is a technology company set up recently by DreamWorks and Awesomeness TV is a youth entertainment company (DreamWorks has a majority stake) with main share of business coming from its massive network of YouTube channels, mostly affiliates. That would mean Katzenberg will no longer be responsible for animated feature production.

Katzenberg said he was excited. “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.”

DreamWorks Animation CEO Jeffrey Katzenberg plays with Madagascar characters, Alex the lion and Kowalski the penguin during a groundbreaking opening of DreamWorks studios in Redwood City, Calif., July 19, 2012. (AP Photo/Paul Sakuma)
DreamWorks Animation CEO Jeffrey Katzenberg plays with Madagascar characters, Alex the lion and Kowalski the penguin during a groundbreaking opening of DreamWorks studios in Redwood City, Calif., July 19, 2012. AP Photo/Paul Sakuma
Petr Svab
Petr Svab
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Petr Svab is a reporter covering New York. Previously, he covered national topics including politics, economy, education, and law enforcement.
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