As expected, Comcast Corp. unit NBCUniversal Media LLC agreed to acquire
Under the agreement, DreamWorks Animation has an equityvalue of about $3.8 billion, the company said April 28. DreamWorks Animationstockholders will receive $41 in cash for each share of DreamWorks common stock.The agreement has been approved by the boards of both companies, and thecontrolling shareholder of DreamWorks Animation has approved the agreement bywritten consent.
The deal is expected to close by the end of 2016, subject toreceipt of antitrust approvals in the U.S. and abroad, as well as thesatisfaction of other customary closing conditions.
DreamWorks Animation CEO and co-founder Jeffrey Katzenbergwill become chairman of DreamWorks New Media, which will comprise the company'sownership interests in Awesomeness TV and NOVA. Katzenberg will also serve as aconsultant to NBCUniversal. Following the acquisition, the studio will becomepart of the Universal Filmed Entertainment Group, which includes UniversalPictures, Fandango, and NBCUniversal Brand Development.
Comcast was advised by Davis Polk & Wardwell LLP onlegal matters. DreamWorks Animation was advised on financial matters byCenterview Partners and on legal matters by Cravath Swaine & Moore LLP.DreamWorks Animation's board was advised on legal matters by Munger Tolles& Olson LLP.