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.
– Contact us at [email protected]