NBCUniversal Announces DreamWorks Animation Acquisition
On 28th April 2016 the Comcast Corporation division NBCUniversal announced the acquisition of DreamWorks Animation, which is scheduled to be closed by the end of this year. DreamWorks Animation will become part of the Universal Filmed Entertainment Group which also includes Universal Pictures, Fandango and NBCUniversal Brand Development. As a developer of animated movies, television series, live entertainment and related consumer products, “DreamWorks Animation is a great addition to NBCUniversal,” said Steve Burke, CEO of NBCUniversal. Under the terms of agreement, DreamWorks Animation has an equity value of approximately 3.8 billion Dollar (approx. 3.4 billion Euro). Upon approval of the controlling shareholder, the stockholders will receive 41 Dollar in cash for each share of DreamWorks Animation common stock. Jeffrey Katzenberg, DreamWorks Animation CEO and co-founder, will become Chairman of DreamWorks New Media, which will be comprised of the company’s ownership interests in “AwesomenessTV” and “NOVA”. Katzenberg will also serve as a consultant to NBCUniversal. “This agreement not only delivers significant value for our shareholders, but also supports NBCUniversal’s growing family entertainment business,” commented Katzenberger. With the acquisition NBCUniversals persues to reach to a host of new audiences in the highly competitive kids and family entertainment market, in both TV and film with popular film franchise properties, such as Shrek, Madagascar and Kung Fu Panda. The involved companies expect the transaction to close by the end of this year, subject to approvals of proper authorities and the satisfaction of other customary closing conditions. (eap)
