Comcast's NBCUniversal said it will buy DreamWorks Animation for $41 a share, an acquisition that values the studio at $3.8 billion, CNBC reported.
The acquisition of the boutique studio co-founded and run by Jeffrey Katzenberg would expand Comcast's entertainment profile and add to Universal's film library with major animated-movie franchises like “Shrek” and “Kung Fu Panda,” which it could tap for its theme parks and consumer products' businesses.
DreamWorks will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures.
Once the deal closes, Katzenberg will become chairman of DreamWorks New Media. He'll also serve as a consultant to NBCUniversal.
NBCUniversal CEO Steve Burke wrote in a message to employees that the deal was an "incredibly exciting opportunity for our company."
He said it was subject to antitrust approval and was expected to close by the end of 2016.
The news halted shares of DreamWorks.
U.S. & World
Comcast is the parent company of NBCUniversal, which owns this site.