Comcast to acquire DreamWorks Animation for $3.8 billion - CNET

NBCUniversal, a division of Philadelphia-based cable giant Comcast, on Thursday aounced that it would acquire DreamWorks Animation for $3.8 billion. The animation studio, which is behind major film franchises such as Shrek, Madagascar and Kung Fu Panda, will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango and NBCUniversal Brand Development.

"DreamWorks Animation is a great addition to NBCUniversal," said NBCUniversal CEO Steve Burke in a press release. "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."

The acquisition is expected to close by the end of 2016, following antitrust and regulatory approval. Under the terms of the deal, NBCUniversal will pay $41 per share to DreamWorks Animation common stockholders, a 27% premium based on Wednesday's closing price of $27.12.