NBCUniversal, a division of Comcast Corp. , said on Thursday it has reached an agreement to acquire DreamWorks Animation in a deal valued at $3.8 billion. Under the terms of the deal, NBCUniversal will pay $41 in cash for each DreamWorks shares outstanding, which is a 27% premium to Wednesday's closing price. The animation studio will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango and NBCUniversal Brand Development, the company said in a news release. "DreamWorks will help us grow our film, television, theme parks and consumer products businesses for years to come," said NBCUniversal Chief Executive Steve Burke in a statement. The acquisition is expected to close by the end of 2016, and is subject to antitrust approvals in the U.S. and abroad. DreamWorks chief and co-founder Jeffrey Katzenberg will become Chairman of DreamWorks New Media. Shares of DreamWorks were halted premarket, while shares of Comcast were down 1.6%.
Continue Reading Below
Copyright © 2016 MarketWatch, Inc.