Comcast, the parent company behind studio giant Universal, is set to purchase animation studio DreamWorks in the coming weeks for a staggering $4.1 billion deal that will see the Hollywood studio expand it’s already impressive arsenal of film titles.
DreamWorks, which has already proven it’s worth at the box office with franchises that includes Shrek, Kung Fu Panda and How To Train Your Dragon, will add a much needed service to the studio that has to compete with the likes of Disney and Twentieth Century Fox to corner a animated market that is still regarded as an untapped goldmine.
Once business has been completed and the deal confirmed, Comcast will appoint DreamWorks current animation CEO, Jeffrey Katzenberg, as Chairman of DreamWorks New Media, a new divion of NBC Universal that will operate out of Universal Studios. Speaking recently, Katzenberg expressed his excitement at the move:
With the formalities set to be completed by the end of this year, this large acquisition by Universal will surely have other Hollywood studios investing in animation studios over the coming years.