Comcast purportedly readying $3bn DreamWorks takeover
American media conglomerate Comcast is rumoured to be readying a $3bn takeover of animation specialists DreamWorks, according to reports in the Wall Street Journal.
Such a move would enable Comcast to go head-to-head with Disney by licensing hit movie franchises such as Shrek, Kung Fu Panda and Monsters vs. Aliens for commercial purposes and use in theme parks.
Any move to purchase wouldn’t come as a complete surprise with DreamWorks CEO Jeffrey Katzenberg having previously been on record as saying he had been searching for a buyer for several years.
Even if the purchase proceeds the DreamWorks brands will remain as a separate entity although the future of Katzenberg himself is less clear, with the possibility that he may depart with a payout of some $21.9m.
DreamWorks has come under pressure from Universal Pictures in recent years with its pictures costing around $50m per feature more to produce, forcing it to delay releases and lay off workers.