DreamWorks Animation Moves to Nasdaq17 Feb, 2009 By: Chris Tribbey
DreamWorks Animation SKG is voluntarily moving from the New York Stock Exchange to Nasdaq, starting Feb. 26. The company sited the exchange’s trading platform and “cost-effective services” as reasons for the switch.
“The Nasdaq and its listed companies represent many qualities with which DreamWorks Animation has long been associated, including industry-leading technology, innovation and creativity,” said Rich Sullivan, head of investor relations for DreamWorks Animation.
Bruce Aust, EVP of Nasdaq’s Global corporate Client Group, said of DreamWorks Animation, “Their work has helped to set the standard for innovation in the entertainment industry.”
In related news, Microsoft co-founder Paul Allen has reportedly sold the remaining stock he owned in DreamWorks Animation, collecting $123 million. The Associated Press reported Allen had 4.6 million shares as of December 2007.