NBCUniversal Buys DreamWorks Animation

NBCUniversal confirmed rumors this morning that it will buy DreamWorks Animation for $3.8 billion.

Variety reports the animation studio, home of brands like Kung Fu Panda and Shrek, will become part of Universal Filmed Entertainment Group with Illumination Entertainment chief Chris Meledandri overseeing the new acquisition. Current DreamWorks Animation CEO Jeffrey Katzenberg will serve as a consultant to NBCUniversal and chairman of DreamWorks Animation New Media.

According to The Hollywood...

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