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Comcast Buys Dreamworks in $3.8 bn Deal

Published: 29th April 2016 06:46 AM  |   Last Updated: 29th April 2016 06:46 AM   |  A+A-

CHENNAI: American multinational mass media firm Comcast will acquire American film production firm Dreamworks, in which Reliance ADAG has interests, for around $3.8 billion. The company’s NBCUniversal division is acquiring DreamWorks Animation studio for around $3.8 billion. Comcast (CCV) on Thursday, said shareholders in DreamWorks will receive $41 in cash per share of stock, roughly 50% premium from where the stock was trading before the merger talks were reported earlier this week. Comcast has also said it expects the deal to pass regulatory oversight and take effect by year end. Comcast said DreamWorks “will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango, and NBCUniversal Brand Development.” NBCUniversal CEO Steve Burke said that the acquistion will help them grow their film, television, theme parks and consumer products businesses for years to come. Reliance ADAG has not commented on the development.                                        

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