Comcast set to acquire DreamWorks Animation [Business]
With speculations running over DreamWorks Animation seeking out potential buyers for more than a year; Comcast, the parent concern of Universal pictures has agreed to acquire DreamWorks for a $3.8 billion deal.After the announcement, DreamWorks shares rose by 24 percent to $39.92 while Comcast stood at $61.41 with an increase of 1 percent. According to a statement, Comcast will pay $41 per share on acquisition of the studio.
Buying the production house that created memorable characters like Shrek, Kung Fu Panda will strengthen Comcast’s fan base who themselves gave hit ones that include “Despicable Me”, ” Minions”. Considered as the 3rd best animation studio after Disney and Pixar, Comcast’s acquisition will bolster its presence in the animation sector.