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Comcast is reportedly in talks to acquire DreamWorks Animation for $3 billion, The Wall Street Journal reported, citing sources familiar with the matter.
DreamWorks is the animated film house behind blockbuster movies like “Kung-Fu Panda” and “Shrek,” and headed by CEO Jeffrey Katzenberg.
The Journal notes that DreamWorks Animation’s market value currently sits at $2.3 billion, making the projected $3 billion deal a potential boon for DreamWorks.
The film studio, Universal Pictures, also sits under Comcast’s umbrella. Universal has its own animated film branch in Illumination Entertainment.
It’s not clear whether Katzenberg will stay with the company should the deal go through.
Katzenberg’s compensation more than doubled last year to about $13.5 million, The Hollywood Reporter’s Paul Bond said last week. $2.5 million of that was salary, the rest was a mix of DreamWorks stock awards and money earned through a nonequity incentive plan.