Japan's SoftBank is reportedly in talks to buy DreamWorks Animation
Japanese telecom giant SoftBank is reportedly in talks to buy DreamWorks Animation, according to The Wall Street Journal and The Hollywood Reporter.
SoftBank has extra money to spare thanks to its stake in Alibaba, the biggest IPO in history. The reported deal values DreamWorks Animation at $3.4 billion, though its market capitalization was $1.9 billion as of Friday. SoftBank shares rose Monday after news of the talks.
DreamWorks CEO Jeffrey Katzenberg has reportedly been on the hunt for a buyer for the studio, which has struggled at the box office in recent years. SoftBank may be interested in DreamWorks Animation, Hollywood's largest independent animation studio, because it could provide Softbank with media content for its mobile networks.
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While the news is still speculation — it's unclear how close this deal actually is — the reports suggest that SoftBank has offered DreamWorks Animation $32 per share, an increase from the studio's current $22 per share price.
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Meghan DeMaria is a staff writer at TheWeek.com. She has previously worked for USA Today and Marie Claire.
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