SoftBank Corp. is reportedly in talks to buy Hollywood studio DreamWorks Animation, home of Shrek, Madagascar and How to Train Your Dragon.
The Tokyo-based wireless carrier, according to The Hollywood Reporter, is said to have offered $32 a share for the studio’s stock, which is a 30% premium over its Friday closing at $22.36.
Studio founder Jeffrey Katzenberg, who would reportedly sign a five-year contract and remain, has been seeking a buyer for the company. DreamWorks Animation (DWA) has had a rough time on Wall Street lately, seeing shares drop more than 22% over the last 12 months. In 2004, DreamWorks Animation spun off as a public company from DreamWorks Studios, which Katzenberg founded in 1994 with David Geffen and Steven Spielberg.
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SOURCE: USA Today