Comcast agrees to pay $3.8 billion for Dreamworks Animation

[filmlover]

Universal has licensed Shrek stuff for more than a decade so I guess this was an easy deal. I wonder what will happen to the remaining movies Fox is set to distribute.

[Sir Tiki]

It's official:

 

Quote

NBCUniversal has set a deal to buy DreamWorks Animation for $3.8 billion in cash.

 

The deal values DreamWorks Animation at $41 a share, a rich premium over the company’s recent trading levels. The total equity value of the deal including debt is $4.1 billion.

 

DreamWorks Animation will become part of NBCUniversal’s Universal Filmed Entertainment Group. Chris Meledandri, head of Universal’s Illumination Entertainment animation wing, will oversee operations. The DreamWorks Animation brand will remain intact as an imprint.

 

After the sale closes, DreamWorks Animation CEO Jeffrey Katzenberg will become chairman of DreamWorks Animation New Media, comprising its ownership stakes in AwesomenessTV and Nova, which will be part of NBCUniversal and housed under the film group headed by chairman Jeff Shell. Katzenberg will also serve as a consultant to NBCUniversal. Though he remains committed to his work with Comcast, those close to Katzenberg, expect he will remain active in his own business endeavors independent of that cable giant.

 

https://variety.com/2016/biz/news/dreamworks-animation-3-8-billion-nbcuniversal-comcast-1201762634/

Edited April 28, 2016 by Sir Tiki

[cannastop]

10 minutes ago, Sir Tiki said:

It's official:

 

 

https://variety.com/2016/biz/news/dreamworks-animation-3-8-billion-nbcuniversal-comcast-1201762634/

Oh damn. It's finally happened.

[cannastop]

Surprisingly, Jeffrey Katzenberg is still there.

[IndustriousAngel]

4,1bil US$ seems a lot of money for a house that has had some problems through the last years

[MinaTakla]

Fantastic news. DHD says that Illumination's Chris Meledandri will also be guiding DWA's growth in the next few years and that man's a marketing genuis so am optimistic

[cannastop]

46 minutes ago, IndustriousAngel said:

4,1bil US$ seems a lot of money for a house that has had some problems through the last years

Where did you get that number? It's $3.8 billion purchase price.

 

And I'm glad that the boss of Illumination is going to oversee film production. We might see some new hits yet.

Edited April 28, 2016 by cannastop

[Jonwo]

3 hours ago, cannastop said:

Surprisingly, Jeffrey Katzenberg is still there.

 

He has be moved to a position where he cannot be involved with DWA in a meddling way. Having Meledandri be involved with DWA can only be a good thing 

[BK007]

Not that I like Katz, but Meledandri hasn't yet shown the little ambition Dreamworks have had in making the quality of both story and animation in movies like Dragon, Panda, Guardians and so on. 

 

Despicable Me has already jumped off a cliff with Minions and Pets looks horrid. 

[cannastop]

3 minutes ago, BK007 said:

Not that I like Katz, but Meledandri hasn't yet shown the little ambition Dreamworks have had in making the quality of both story and animation in movies like Dragon, Panda, Guardians and so on. 

 

Despicable Me has already jumped off a cliff with Minions and Pets looks horrid. 

It's not all up to Meledandri for the movies to be good, you know.

[Sir Tiki]

47 minutes ago, cannastop said:

Where did you get that number? It's $3.8 billion purchase price.

 

The $4.1 billion number includes DreamWorks' outstanding debt that Comcast has agreed to assume.

 

http://www.usatoday.com/story/money/2016/04/28/comcast-nbc-acquire-dreamworks-animation/83640258/

[cannastop]

1 hour ago, Sir Tiki said:

 

The $4.1 billion number includes DreamWorks' outstanding debt that Comcast has agreed to assume.

 

http://www.usatoday.com/story/money/2016/04/28/comcast-nbc-acquire-dreamworks-animation/83640258/

Ah, OK. Enterprise value, then.

[department store basement]

Will DWA's Fox deal end early then?

[MrFanaticGuy34]

Very good choice.

[Fancyarcher]

3 hours ago, department store basement said:

Will DWA's Fox deal end early then?

 

It's pretty much a given. 

[department store basement]

1 hour ago, Daniel Dylan Davis said:

 

It's pretty much a given. 

 

How? When Disney bought Marvel Studios Paramount still distributed its films until Cap 1.

[Fancyarcher]

Just now, department store basement said:

 

How? When Disney bought Marvel Studios Paramount still distributed its films until Cap 1.

 

Fair enough. I'm pretty sure Fox will distribute Dreamworks until HTTYD3, after that, I have no idea. 

[department store basement]

6 minutes ago, Daniel Dylan Davis said:

 

Fair enough. I'm pretty sure Fox will distribute Dreamworks until HTTYD3, after that, I have no idea. 

 

The Fox contract ends next year, so Universal will most likely distribute HTTYD3.

[Fancyarcher]

13 minutes ago, department store basement said:

 

The Fox contract ends next year, so Universal will most likely distribute HTTYD3.

 

Likely. 

[Jonwo]

It's quite telling that Katzenberg been given a new role rather than remain CEO of DWA, it's likely Comcast said to him 'we want to buy DreamWorks Animation but we don't want you.'