Comcast's NBCUniversal To Buy DreamWorks Animation In $3.8 Bln Deal

(RTTNews) - NBCUniversal, a division of Comcast Corporation (CMCSA, CMCSK), announced the acquisition of DreamWorks Animation (DWA). DreamWorks Animation stockholders will receive $41 in cash for each share of DreamWorks Animation common stock.

As per the terms of the agreement, DreamWorks Animation has an equity value of about $3.8 billion.

The agreement has been approved by the boards of directors of DreamWorks Animation and Comcast, and the controlling shareholder of DreamWorks Animation has approved the agreement by written consent.

The transaction is expected to close by the end of 2016, subject to receipt of antitrust approvals in the U.S. and abroad, as well as the satisfaction of other customary closing conditions.

Following the completion of the transaction, DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become Chairman of DreamWorks New Media, which will be comprised of the company's ownership interests in Awesomeness TV and NOVA. Katzenberg will also serve as a consultant to NBCUniversal.

One of the world's most admired family brands, DreamWorks Animation creates animated feature films, television series and specials, live entertainment and related consumer products. The studio will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango, and NBCUniversal Brand Development.