Comcast secures animation franchises Shrek, Kung Fu Panda and Madagascar as the ink dries on $3.8bn DreamWorks buyout
Comcast has finally secured the acquisition of animation studio DreamWorks as the company looks to build a company more capable of competing with entertainment behemoths Disney and Time Warner.
Shrek antagonist Lord Farquad
The deal, inked at the end of April, has finally been approved four months later for $3.8bn, with the company on an upshoot off the box office success of How to Train Your Dragon 2 and Kung Fu Panda 3.
Having developed popular movie franchises such as Shrek, Kung Fu Panda, How to Train Your Dragon and Madagascar, the company founded in 1994 by David Geffen, Steven Spielberg, Jeffrey Katzenberg, has now become part of NBCUniversal’s Universal Filmed Entertainment Group. The brand will remain in place with Comcast expressing no plans to alter the iconic studio.
DreamWorks chief executive and co-founder Jeffrey Katzenberg will become chairman of DreamWorks New Media.
Back in April, on the deal, Katzenberg said: "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."