Comcast acquires animation studio Dreamworks for $3.8bn
US media giant Comcast's NBC Universal has secured animation powerhouse Dreamworks as it looks to compete with rival Disney.
The company announced the acquisition on Thursday afternoon, with the deal tallying $3.8bn, well above its $2.3bn valuation.
All in all, the company will pay $41 a share, and the deal will conclude once US competition authorities give it the green light.
DreamWorks chief executive and co-founder Jeffrey Katzenberg will become chairman of DreamWorks New Media, according to CNBC.
Katzenberg gave the deal his blessing in a statement: "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."