DreamWorks Animation to become part of Universal Filmed Entertainment Group following acquisition.
DreamWorks Animation has been acquired by NBCUniversal in a deal worth $3.8 billion.
The company – which boasts high profile properties including Shrek, Kung Fu Panda, Madagascar and How to Train Your Dragon – will become part of the Universal Filmed Entertainment Group.
The deal is expected to be completed by the end of 2016.
DreamWorks Animation ceo and co-founder, Jeffrey Katzenberg will become chairman of DreamWorks New Media, which will include the company’s ownership interests in Awesomeness TV and NOVA. He will also serve as a consultant to NBCUniversal.
“DreamWorks Animation is a great addition to NBCUniversal,” said Steve Burke, ceo of NBCUniversal.
“Jeffrey Katzenberg and the DreamWorks organisation have created a dynamic film brand and a deep library of intellectual property. DreamWorks will help us grow our film, television, theme parks and consumer products businesses for years to come.
“We have enjoyed extraordinary success over the last six years in animation with the emergence of Illumination Entertainment and its brilliant team at Illumination Mac Guff studio. The prospects for our future together are tremendous.”
Universal enjoyed a stellar year at the box office in 2015 – boosted by Minions and Jurassic World among others. The company had a 21% share of the overall UK market and grossed $497.9m for the year.
It has also been ramping up its licensing team in the UK, appointing Darran Garnham as vp of consumer products, EMEA earlier this year.
