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DreamWorks Files IPO to Spin Off Animation Unit

21 Jul, 2004 By: Jessica Wolf

DreamWorks SKG has filed an initial public offering with the Securities and Exchange Commission to spin off its animation unit, responsible for the two popular Shrek movies.

The IPO is worth up to $650 million in common stock, according to published reports. DreamWorks will reportedly use $175 million of the proceeds as working capital, slating the rest for debts the animation arm will take on after its split from DreamWorks SKG.

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