NBCUniversal acquires the company, which houses hit franchises like 'Shrek' and 'How to Train Your Dragon'
Credit: Dream Works Animation

NBCUniversal announced on Thursday that they had acquired DreamWorks Animation. Home of such beloved franchises as Shrek, How To Train Your Dragon, and Kung Fu Panda, DreamWorks will join Universal Pictures and Fandango as part of the Universal Filmed Entertainment Group.

“Jeffrey Katzenberg and the DreamWorks organization have created a dynamic film brand and a deep library of intellectual property,” NBCUniversal CEO Steve Burke said in a statement. “DreamWorks will help us grow our film, television, theme parks and consumer products businesses for years to come.”

The deal is worth $3.8 billion, and will complete by the end of 2016. DreamWorks stockholders will receive $41 cash for each share. DreamWorks CEO and co-founder Jeffrey Katzenberg will become Chairman of DreamWorks New Media, consisting of the company’s ownership interests in Awesomeness TV and NOVA, as well as a consultant for NBCUniversal.

“Having spent the past two decades working together with our team to build DreamWorks Animation into one of the world’s most beloved brands, I am proud to say that NBCUniversal is the perfect home for our company, a home that will embrace the legacy of our storytelling and grow our businesses to their fullest potential,” Katzenberg said in a statement.