June 14, 2024

Universal Acquire’s Dreamworks Animation

Comcast’s NBCUniversal division is acquiring the DreamWorks Animation studio for about $3.8 billion.

DreamWorks Animation CEO Jeffrey Katzenberg will step down as CEO of the studio to become chairman of DreamWorks New Media, made up of the company’s ownership interests in video company AwesomenessTV and its tech company, Nova. He will also be a consultant to NBCUniversal. Katzenberg co-founded DreamWorks in 1994 with Steven Spielberg and David Geffen. DreamWorks Animation spun off as a public company in 2004. In a statement, Katzenberg discusses the acquisition, and his new role:

“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.”

From a fan point of view, the acquisition will likely have little impact. We probably won’t see any change in the amount or type of films that came out of either studios.

Source: USA Today

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