Japan’s SoftBank Corp (9984.T) is in talks to acquire DreamWorks Animation SKG (DWA.O), the Hollywood studio behind the “Shrek” and “Madagascar” movie hits, a person with knowledge of the situation said.
An acquisition of DreamWorks by SoftBank would make it part of a cash-rich Japanese communications and media company that, under founder and chief executive Masayoshi Son, has shown a willingness to take big bets on combining disparate businesses.
The talks were first reported by the Hollywood Reporter, which quoted an unidentified source as saying a buyout would value DreamWorks at $3.4 billion.
The entertainment trade publication said SoftBank had offered $32 per share for DreamWorks, a substantial premium to the stock’s Friday closing price of $22.36.
Buying DreamWorks, which is headed by veteran Hollywood producer and film executive Jeffrey Katzenberg, would make SoftBank the second Japanese technology company to buy a Hollywood studio, following Sony Corp (6758.T), which bought Columbia Pictures in 1989.
strategicMarch 30, 2015
culturalMarch 27, 2015
creativeMarch 30, 2015
economicMarch 30, 2015
© 2015 Davis Brand Capital. All rights reserved.