Wednesday, August 03, 2016

Into the Black

... and on to the warm embrace of Comcast-Universal.

“Kung Fu Panda 3” helped kick DreamWorks Animation into the black during the second quarter, the Glendale-based studio said Wednesday.

DreamWorks Animation, which is preparing to be acquired by Comcast Corp., reported $2.3 million, or 3 cents a share, in profit for the three months ended June 30. That compares with a $38.6-million loss during the same period of time last year.

The company’s earnings easily exceeded the expectations of Wall Street analysts, who had projected a quarterly loss of 6 cents. ...

DWA's efforts to grow a TV division, beef up merchandising, and purchase Awesomeness TV has happily bone fruit. And the company's latest feature making north of half a billion dollars? That's also very helpful.

U-C is no doubt licking its corporate lips over riches soon to come. Jeffrey will be ambling out the door, but he'll be milk a percentage from the internet assets after the deal closes (and after investor lawsuits over this side deal get resolved).

So it's a win-win for everybody, yes?


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