NBCUniversal to Acquire DreamWorks Animation
Posted on May 14, 2016
NBCUniversal has announced plans to acquire DreamWorks Animation. The $3.8 billion deal is expected to close by the end of 2016. Comcast is the parent company of NBCUniversal.
The DreamWorks Animation studio will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango, and NBCUniversal Brand Development. DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become Chairman of DreamWorks New Media after the acquisition. The deal will close by the end of this year, subject to subject to receipt of antitrust approvals in the U.S. and abroad.
NBCUniversal CEO Steve Burke says in a statement, "DreamWorks Animation is a great addition to NBCUniversal. 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. We have enjoyed extraordinary success over the last six years in animation with the emergence of Illumination Entertainment and its brilliant team at Illumination Mac Guff studio. The prospects for our future together are tremendous. We are fortunate to have Illumination founder Chris Meledandri to help guide the growth of the DreamWorks Animation business in the future."
Katzenberg adds, "Having spent the past two decades working together with our team to build DreamWorks Animation into one of the world’s most beloved brands, I am proud to say that NBCUniversal is the perfect home for our company; a home that will embrace the legacy of our storytelling and grow our businesses to their fullest potential. This agreement not only delivers significant value for our shareholders, but also supports NBCUniversal's growing family entertainment business. 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."
Deadline reports that if debt is included this is a $4.1 billion deal which makes it bigger than Disney's Marvel and Lucasfilm acquisitions.
Image: DreamWorks Animation