BURBANK, Calif., April 29, 2016 (Gephardt Daily) — It was announced in a press release that NBCUniversal bought DreamWorks Animation adding the new purchase to their Universal Filmed Entertainment Group.
According to Animation Magazine, Chris Meledandri, head of Universal’s Illumination Entertainment animation studio, will oversee operations.
The board of directors of the companies, which include DreamWorks Animation, Comcast (parent company to NBCUniversal) and the controlling shareholder of DreamWorks Animation, have sanctioned the agreement by written consent.
Following the completion of the transaction, DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become Chairman of DreamWorks New Media. The new company will be comprised of Awesomeness TV and NOVA. Katzenberg will also serve as a consultant to NBCUniversal.
“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,” said Katzenberg in a press release.
“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.”