Monday, August 22, 2016

Marriage Consummated

From a noontime announcement.

Comcast Corp. has closed its $3.8 billion acquisition of DreamWorks Animation, four months after announcing its plans to buy the studio.

Dreamworks Animation will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango and NBCUniversal Brand Development and is headed by Jeff Shell. Comcast made the announcement after the market closed Monday.

The deal calls for DWA stockholders to receive $41 in cash for each share of DWA common stock. DWA shares will no longer be listed on the NASDAQ. ...

DreamWorks Animation employees have asked: "Is the studio going to stop being Guild after it changes ownerhsip?"

A DWA lawyer confirmed with us this afternoon that DreamWorks Animation (feature and television) is still under TAG's collective bargaining agreement. Nothing changes, except that the company ceases being a corporation with its own stock and now exists as a division under the Universal-Comcast umbrella.


Christopher Sobieniak said...

Well let's see how long that lasts.

Alex Dudley said...

And now there's word that Chris Melandandri will no longer head DWA. I wonder what's that about....

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