Viacom Completes DreamWorks Library Sale8 May, 2006 By: Jessica Wolf
Viacom Inc. has completed its sale of the DreamWorks library of titles.
The media company sold the library for $900 million to Soros Strategic Partners LP and Dune Entertainment II LLC, an affiliate of Dune Capital Management LP.
The deal had been in the works since mid-March and the library brought in the expected capital for the new Viacom, according to the company.
The sell off was always a part of the strategy for Viacom, which acquired DreamWorks for $1.6 billion at the beginning of the year.
Viacom, via its Paramount Home Entertainment arm, will retain the distribution rights to the DreamWorks library.