NBC Universal Closes DreamWorks Animation Acquisition22 Aug, 2016 By: Erik Gruenwedel
NBC Universal Aug. 22 announced the formal completion of its $3.8 billion acquisition of DreamWorks Animation. As part of the deal, DWA becomes a subsidiary of Universal Film Entertainment Group, which includes Universal Pictures, Universal Pictures Home Entertainment, Fandango (and Fandango OTT) and NBC Universal Brand Development.
Co-founded by Jeffrey Katzenberg, DWA’s former CEO exits the studio with a golden parachute valued at more than $391 million, based on ownership of 10.2 million shares, according to a regulatory filing.
Jeff Shell, chairman of UFEG, assumes control of DreamWorks Animation, which earlier this month reported second-quarter (ended June 30) profit of $2.3 million, compared with a loss of $38.5 million during the previous-year period. Revenue topped $220 million, compared with more than $170 million a year ago.
Monday was the last day DWA shares were publicly traded. Shareholders received $41 in cash for each common share of stock.