Jeffrey Katzenberg (why does everyone have a cooler name than me?) chief of DreamWorks Animation, has been looking to bring in some outside help for his company.
In fact, Hasbro, the toy company behind G.I. Joe, Transformers, and My Little Pony, called off on the deal immediately following Deadline’s coverage of the story.
Well, it looks like DreamWorks is finally getting close to finding a partnership. However, it doesn’t seem to come in the form DreamWorks hoped for. Rather than reaching a merger, like DreamWorks originally intended, Comcast looks to sway them into an acquisition. And their form of persuasion is pretty hefty.
Comcast, who currently owns NBCUniversal and portions of FanDuel, is offering DreamWorks $3 Billion and possibly even more if that measly price tag doesn’t suffice.
Katzenberg has been relatively open about how his company has been doing, stating that he had to resort to a, “dramatic reset of the business,” that called for the layover of 20% of all employees, shortening the annual release numbers from 3 to 2, and shaking up various management entities within DreamWorks.
Most of the issues can probably be traced to the companies most recent films not faring so well in terms of box office numbers when compared to Disney and Pixar. DreamWorks’ most recent film, Kung Fu Panda 3, was released early this year and has earned an estimated $142 million lifetime earnings on its $145 million budget.
On the other hand, Disney’s most recent animated film, Zootopia, is close to hitting the one billion dollar mark; sitting at a staggeringly high $908,966,309 on its $150 million budget.
Pixar has yet to release a film for 2016, but fans are currently awaiting the arrival of the Finding Nemo sequel Finding Dory which is slated for a release date of June 17, 2016.
We’ll make sure to keep you all as updated as possible on this potential deal here at GNG.