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April 27, 2016

Comcast reportedly in talks to buy DreamWorks Animation for $3B

Acquisition could propel Philly company into rival status with Disney

Business Comcast
Carroll - Comcast Center Thom Carroll/PhillyVoice

The Comcast Center

More than five years after acquiring media conglomerate NBCUniversal in a massive deal, Comcast Corp. has its sights on another big purchase that would likely significantly increase its position in the world of animated movies, according to reports.

The Wall Street Journal was the first to report that the Philadelphia-based company is in talks to buy DreamWorks Animation SKG Inc., producers of the "Shrek" and "Madagascar" movies, among other hits.

The tentative price of the acquisition is more than $3 billion, people familiar with the negotiations told The Journal, and if completed, it could propel Comcast into rival status with Walt Disney Co. when it comes to family entertainment.

Comcast's Universal Pictures has made some hits like "Despicable Me" but has not reached the level of DreamWorks and Disney, according to the newspaper.

On Wednesday, Comcast reported first-quarter earnings that exceeded Wall Street's expectations and 53,000 added video subscribers.