March 19, 2024 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Comcast In Talks To Buy DreamWorks Animation

DreamWorksComcast Corp. is in talks to buy DreamWorks Animation SKG Inc. for more than $3 billion, according to people familiar with the matter, it was reported today.

Any such acquisition could make the cable giant a rival to Walt Disney Co. in the lucrative family-entertainment business, The Wall Street Journal reported.

Comcast’s Universal Pictures studio has enjoyed success in recent years with its animated “Despicable Me” and “Minions” movies but is still a relatively small player.

But its parent company has been moving aggressively to mimic Disney by using its animation properties to build out its consumer products and theme parks businesses, a strategy that could be accelerated by the addition of DreamWorks, which has produced such animated films as “Shrek” and “Kung Fu Panda,” according to the Journal.

The tentative purchase price represents a healthy premium over DreamWorks’ current $2.3 billion market value.

It wasn’t immediately clear what the deal would mean for DreamWorks’ chief executive, the veteran Hollywood mogul Jeffrey Katzenberg. One person with knowledge of the talks told the Journal that DreamWorks and Illumination Entertainment, Universal’s animation studio, would remain separate brands.

Katzenberg would receive a total payout of about $21.9 million if the company is sold and he leaves DreamWorks, according to the company’s most recent proxy statement. Additionally, he controls about 60 percent of the company’s common voting stock, according to the proxy cited by the Journal.

Related Posts

Foreign Currency in International Business Expansion

January 2, 2024

January 2, 2024

Business has transformed into a whole different dimension. The interconnectedness across countries is increasing the feasibility of business expansions. It...

How to Select Quality Solar Panels and Installation in California

January 2, 2024

January 2, 2024

As solar energy becomes more affordable and popular, many homeowners in California are considering installing solar panels. However, not all...

Celebrating Christmas in Las Vegas: A Winter Wonderland of Fun and Festivity

November 15, 2023

November 15, 2023

As the festive season approaches, Las Vegas transforms into a glittering winter wonderland, offering a unique and magical Christmas experience....

Navigating Oxnard’s Public Transportation System: A Driver’s Guide

November 2, 2023

November 2, 2023

Whether you live in Oxnard or want to visit, it’s useful to know how to get around this coastal city....

15 Tips For Keeping Burglars Out Of Your Business

October 16, 2023

October 16, 2023

In the ever-evolving realm of business security, the persistent threat of burglary perpetually looms overhead like a dark cloud. The...

US Gambling Laws

July 12, 2023

July 12, 2023

Whilst casino gaming is a significant part of the American culture, US gambling laws are ever-changing. Prior to the Unlawful...

Reasonable Renting in The City of Angels

June 2, 2023

June 2, 2023

What would it be like to wake up in a bustling metropolis filled with endless possibilities, set against rows of...

BEST BITCOINS CASINO 2023: EVERYTHING YOU NEED TO KNOW

May 29, 2023

May 29, 2023

Bitcoins casino and cryptocurrency casinos are in full swing, and they will increase users exponentially in the coming years. However,...

Messi Drives Up Ticket Prices Up for this MLS Season.

May 4, 2023

May 4, 2023

Lionel Messi’s arrival in Major League Soccer (MLS) is already causing a stir, and the profound effect it is having...

Don’t Miss Your Last Chance to Experience CORTEO by Cirque du Soleil!

April 25, 2023

April 25, 2023

The Show’s Run At The Microsoft Theater Ends On April 30  Time is running out for fans of CORTEO by...

Enforcement of LA’s Home Sharing Ordinance for Short-Term Rentals Falls Significantly in 2022

April 4, 2023

April 4, 2023

Better Neighbors LA report highlights the inadequacies of enforcement measures for short-term rentals in Los Angeles, calling for increased regulation...

Tragic Fire Claims Lives of Elderly Couple and Their Cat in Mar Vista

February 9, 2023

February 9, 2023

Doris Bergman and Albert Sassoe Jr. victims in Wednesday morning fire By Sam Catanzaro An elderly couple and their cat...

4 Tips for Landing Your Dream Job

January 2, 2023

January 2, 2023

New graduates have fresh skill sets and they are driven by a desire to succeed. Hampering this desire, however, is...

Cancer Cartel Provides Financial Help To Cancer Patients

November 16, 2022

November 16, 2022

Cancer Cartel is helping cancer patients focus on their treatment, not the financial stress of living with a diagnosis. Learn...

Column: Tenant Support Could Tip the Political Scales in CD-11 Council Race

October 29, 2022

October 29, 2022

Darling pushes advocacy of renter’s rights over Park in tightly contested battle to succeed Mike Bonin! By Nick Antonicello In...