It’s A Done Deal! Comcast Buys Dreamworks Animation for $3.8 Billion

Comcast’s NBCUniversal division has bought Dreamworks Animation for $3.8 billion. The deal was announced this morning.

Comcast says that Dreamworks “will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango, and NBCUniversal Brand Development.”

As reported last night, Illumination’s Chris Meledandri will take charge of Dreamworks Animation’s business. “We are fortunate to have Illumination founder Chris Meledandri to help guide the growth of the DreamWorks Animation business in the future,” said Steve Burke, CEO of NBCUniversal, in a statement. “DreamWorks will help us grow our film, television, theme parks and consumer products businesses for years to come. We have enjoyed extraordinary success over the last six years in animation with the emergence of Illumination Entertainment and its brilliant team at Illumination Mac Guff studio. The prospects for our future together are tremendous.”

Following the completion of the sale, which is expected to happen by the end of 2016, DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become chairman of Dreamworks New Media, which will be comprised of the company’s ownership interests in Awesomeness TV and NOVA. Katzenberg will also serve as a consultant to NBCUniversal.

Here is Katzenberg’s parting statement:

Having spent the past two decades working together with our team to build DreamWorks Animation into one of the world’s most beloved brands, I am proud to say that NBCUniversal is the perfect home for our company; a home that will embrace the legacy of our storytelling and grow our businesses to their fullest potential. This agreement not only delivers significant value for our shareholders, but also supports NBCUniversal’s growing family entertainment business. As for my role, I am incredibly excited to continue exploring the potential of AwesomenessTV, NOVA and other new media opportunities, and can’t wait to get started.