Comcast already owns NBCUniversal, giving the cable giant a solid foothold in the entertainment industry. Now the company could be eyeing another major acquisition as it attempts to take on industry heavyweights like Disney.
The Wall Street Journal reports that Comcast is in talks to buy DreamWorks Animation for over $3 billion, about a $240 million premium over the firm’s market cap. The deal could combine the movie studio behind franchise hits like Shrek, Kung Fu Panda and Madagascar with Universal and its popular Despicable Me series.
DreamWorks Animation has apparently been looking to sell for a few years already, and may also be in talks with a few possible Chinese buyers. However, CEO Jeffrey Katzenberg is also pushing to expand the business into TV, online video and even physical products. The company’s also signed a deal to produce hundreds of hours worth of content for Netflix.
If this rumored deal does go through, it could give Comcast a huge presence in the animation industry as the company continues to expand beyond its traditional role as a cable and internet provider. Nothing is guaranteed yet, but clearly Comcast has big ambitions in this area.
Source: WSJ