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SoftBank to acquire DreamWorks Animation - report

2014-09-28 13:19:00| Telecompaper Headlines

(Telecompaper) Japanese mobile operator SoftBank is in talks to acquire US-based animation studio DreamWorks Animation, The Hollywood Reporter, citing unnamed people familiar with the matter. DreamWorks Animation reported a second-quarter net loss of USD 15.4 million in July, and revenues of USD 122.3 million. DreamWorks Animation's current CEO, Jeffrey Katzenberg, would remain the head of DreamWorks Animation, should the deal occur, with the executive signing a 5-year contract to remain its CEO, Variety reports. According to the same source, SoftBank is offering USD 32 per share to acquire DreamWorks Animation, higher than the studio's stock price of USD 22.36 as of 26 September.

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