Sony are lucky that Hotel Transylvania, Smurfs and to an extent Cloudy were successful as I imagine SPA would have closed by now.
WAG seems to taking the WDAS/Pixar approach with their Think Tank but they don't have an actual studio using companies like Animal Logic, Imageworks etc for the animation itself, Storks costs $70m which is slightly lower than Illumination but half of Pixar. Interesting that they're using live action directors like Nicholas Stoller and Dax Shepherd to help co-direct their films,