The press releases have astonished the market but no doubt have brought in what was expected from CEO Jeffrey Katzenberg who has been looking to avail any chance to sell the company – and so he finally havefound a purchaser of DreamWorks Animation.
INSIGHT: DWA has 19 animated television shows in production alongside blockbuster film franchises like Shrekand Kung Fu Panda. Also, Ithas a distribution deal with 20th Century Fox that runs out at the end of 2017. In 2013, it bought Awesomeness TV and signed a multiyear deal to provide original content to Netflix.
Presently, an ongoing discourse is being held between DreamWorks and Comcast.
According to sources’ info to The Hollywood Reporter, the acquisition of Glendale animation company is set out worth $3 billion
DWA would flourish more rapidly following deal accomplishment in expanding with larger entertainment *conglomerate diameter.Furthermore, the deal might unveil impressive prospects for investors who have continued investing in a 2.3 billionaire company.
(it holds properties like NBC, the USA network, Universal Studios and Telemundo)
Last year in November, the CEO held a discourse with Japanese telecommunications giant, SoftBank. The mogul also has courted everyone from 20th Century Fox to various Chinese companies (source: Hollywood Reporter)
Upon reach, DWA spokesperson did not pass over any comment regarding this ongoing news by WSJ. On a related note, NBC Universal/Comcast spokesperson also did not say a word about it.
No confirmation has been laid regarding Mr. Katzenberg designation as running the **studio he had earlier formed in 1997 by a collaboration of DreamWorks SKG. Not to mention, hemanaged to diversifythe studio during times when it had been adversely affected by financial havocs.
(**It was spun off as a separate company in 2004, with Katzenberg at the helm)
During its film transformation process, the studio reportedto have:
- closed an animation studio based in Redwood City, Calif.
- opted an employment cut rate of 500 in year 2015.
- put new executives in charge of the film studio.