Cable network Comcast announced the purchase of DreamWorks for $3.8 billion

NBCUniversal, a division of the American cable company Comcast announced the purchase by DreamWorks Animation. This is stated on the Comcast website.

The equity value of the Studio in the agreement is estimated at $3.8 billion, shareholders will receive $41 for each share of the company. The transaction has been already approved by the boards of Directors of DreamWorks Animation and Comcast. It must be completed by the end of 2016, sales are expected to coordinate antitrust authorities, the report says.

The Studio will become part of the Universal Filmed Entertainment Group, which also will include Universal Pictures, Fandango, NBCUniversal and Brand Development.

“This agreement not only will be very beneficial for our shareholders, but will also support a growing family entertainment business, NBCUniversal,” said CEO and co-founder of DreamWorks Animation Jeffrey Katzenberg. After completion of the transaction he will become Chairman of the Board of Directors of the new company called DreamWorks New Media. It will include some assets, including a network AwesomenessTV Network for teenage girls.

On the negotiations for the purchase of DreamWorks was previously reported by The Wall Street Journal. The newspaper reported that the transaction amount will exceed $3 billion and observed that this price implies a healthy premium” to market value of the Studio, which is $2.3 billion.

DreamWorks has produced such cartoons as “Shrek”, “Madagascar”, “antz”, “puss in boots”, “Kung fu Panda”. NBCUniversal, in turn, owns the film production company Illumination Entertainment, which released the animated film “Despicable me”.