Date
28 May 2017
DreamWorks CEO Jeffrey Katzenberg may be close to finding a buyer for his boutique Hollywood studio. Photo: Bloomberg
DreamWorks CEO Jeffrey Katzenberg may be close to finding a buyer for his boutique Hollywood studio. Photo: Bloomberg

Comcast said to be in talks to buy DreamWorks Animation

US cable giant Comcast Corp. is in talks to buy boutique Hollywood studio DreamWorks Animation SKG for more than US$3 billion, the Wall street Journal reported, citing sources familiar with the matter.

An agreement, if reached, can help Comcast emerge as a rival to Walt Disney Co. in the lucrative family-entertainment business, the paper noted.

It was not immediately clear what a deal would mean for DreamWorks CEO Jeffrey Katzenberg, the report said.

DreamWorks Animation was spun off from DreamWorks Studios in 2004 as a separate listed company.

DreamWorks Studios was founded in 1994 by Steven Spielberg, David Geffen and Jeffrey Katzenberg.

After moving to the spun off entity, Katzenburg has been seeking a buyer in recent years.

In 2014, DreamWorks held talks with Japan’s SoftBank Corp. and toy maker Hasbro regarding a possible deal.

More recently it has held discussions with potential buyers in China, people close to the company told the Journal.

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