Key Developments: DreamWorks Animation SKG Inc (DWA.O)
24.95USD
19 Jun 2013
$0.64 (+2.63%)
$24.31
$24.84
$25.50
$24.46
1,626,282
855,756
$25.50
$15.90
Latest Key Developments (Source: Significant Developments)
SUPER RTL Agrees To Multi-Year Content Deal with Dreamworks Animation Skg Inc
SUPER RTL, the German children's TV market leader for 15 years, and Dreamworks Animation Skg Inc have agreed to terms on a five-year television output agreement beginning in September 2013. This deal includes more than 1100 programming half-hours and secures a supply of high-quality animated series for the station. The licensing agreement includes new television series inspired by DreamWorks' hit franchises and future films, the first two of which will be How to Train Your Dragon and a show based on the soon-to-be-released Turbo (July 2013). All original series produced by DreamWorks Animation will air exclusively throughout Germany on the Cologne-based kids' and family broadcaster. SUPER RTL will also be getting access to the DreamWorks Classics library, which includes some of the popular animation produced in the last 50 years. Full Article
Dreamworks Animation Skg Inc Mulls Cutting Up To 500 Jobs-Reuters
Dow Jones reported that Dreamworks Animation Skg Inc might cut a maximum of 500 jobs from its 2,000 member workforce following disappointing holiday results and delays to its film lineup, the Wall Street Journal reported on February 07, 2013, citing a person familiar with the situation. The Journal said that the job cuts were not expected to be limited to the studio's headquarters in Glendale, California. Full Article
Dreamworks Animation Skg Inc Announces Chairman Change
Dreamworks Animation Skg Inc announced that Roger Enrico has resigned as Chairman of the Board of Directors for the Company, effective immediately. DreamWorks Animation's Board of Directors has named fellow Board member Mellody Hobson as the Company's Chairman of the Board. Mr. Enrico has served as Chairman of DreamWorks Animation since its inception as a public company in 2004. Full Article
DreamWorks Animation SKG, Inc.'s China JV To Open $3.1 Billion Shanghai Theme Park- Reuters
Reuters reported that DreamWorks Animation SKG, Inc. and its Chinese joint venture partners will open a theme park in Shanghai by 2016, with a total investment amount of 20 billion yuan ($3.14 billion). DreamWorks announced in February it will create a China JV called Oriental Dreamworks that will develop and produce Chinese animated and live-action content for distribution within China and around the globe. Full Article
DreamWorks Animation SKG, Inc. Agrees To Acquire Classic Media
DreamWorks Animation SKG, Inc. announced that it has entered into an agreement to acquire Classic Media, owner of one of the portfolios featuring many of the known and enduring franchises in all of family entertainment, for $155 million in cash from Boomerang Media Holdings I LLC, a portfolio company of Chicago-based private equity firm GTCR. Classic Media's library of intellectual property, which is focused on family characters and brands, features a collection of filmed entertainment with over 450 titles and more than 6,100 episodes of animated and live-action programming. The acquisition of Classic Media will be financed through a combination of cash and borrowings under DreamWorks Animation's revolving credit facility. The purchase price of $155 million includes amounts required to retire indebtedness. The transaction is subject to customary closing conditions, including the expiration or termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. DreamWorks Animation expects that the transaction will be completed during the quarter ended September 30, 2012. J.P. Morgan Chase & Co. acted as financial advisor and Cravath, Swaine & Moore LLP and O'Melveny & Myers LLP served as legal advisors to DreamWorks Animation in connection with the transaction. Jefferies & Company, Inc. acted as financial advisor and Kirkland & Ellis LLP served as legal advisor to Classic Media in connection with the transaction. Full Article
DreamWorks Animation SKG And Netflix In Talks On Film Streaming Deal-DJ
Dow Jones reported that DreamWorks Animation SKG is in talks to offer exclusive streaming rights of its films to Netflix Inc., with a deal possible as soon as this week, according to Bloomberg News. Under terms of an existing contract, DreamWorks Animation SKG delivers movies to Time Warner Inc.'s HBO through 2014. However, HBO has agreed to release DreamWorks from that contract two years early, according to a person with knowledge of the matter. Under that scenario, Netflix could gain access to DreamWorks releases from early 2013. Full Article
DreamWorks sees $200 million in annual TV revenue by 2015
LOS ANGELES - "Shrek" creator DreamWorks Animation expects revenue from its expanding television business to reach $100 million this year and to rise to a "steady state" of $200 million annually starting in 2015, Chief Executive Jeffrey Katzenberg said on Tuesday.
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