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Comcast's NBCUniversal completes purchase of DreamWorks Animation

NBCUniversal has completed its $3.8-billion acquisition of DreamWorks Animation, a blockbuster deal that alters the face of Hollywood and accelerates the pace of consolidation in the media industry.

Monday was the final day that DreamWorks’ shares traded on the Nasdaq stock exchange, according to a regulatory filing.

Jeffrey Katzenberg, chief executive of the boutique studio behind such animated hits as “Kung Fu Panda” and “Shrek,” officially segued into a new role as a consultant to Comcast Corp., which is the parent company of NBCUniversal.

Another Jeff is in charge: Jeff Shell, chairman of Universal Filmed Entertainment Group.

Shell now will oversee DreamWorks Animation, which becomes part of his business unit that includes movie studio Universal Pictures, online ticket service Fandango and NBCUniversal Brand Development.

Inside Frank Ocean's Los Angeles pop-up shop Caption Inside Frank Ocean's Los Angeles pop-up shop

Frank Ocean announced a surprise pop-up shop in four cities to celebrate the release of his new album. 

Frank Ocean announced a surprise pop-up shop in four cities to celebrate the release of his new album. 

NBC's 'The Voice on Snapchat' Caption NBC's 'The Voice on Snapchat'

NBCUniversal will team up with Snapchat, the photo-messaging app, by providing mini TV shows that are offshoots of its established properties.

NBCUniversal will team up with Snapchat, the photo-messaging app, by providing mini TV shows that are offshoots of its established properties.

DreamWorks’ board of directors also was disbanded. 

Four other senior DreamWorks executives — Ann Daly, president; Fazal Merchant, chief financial officer; Steven Adams, chief accounting officer; and Andrew Chang, general counsel, no longer serve in their most recent capacities, the filing said.

Stockholders will receive $41 in cash for each share of DreamWorks common stock. Comcast added that on Sept. 21, the company would redeem the full $300-million aggregate principal amount outstanding of DreamWorks’ senior notes that were due in August  2020.

See the most-read stories in Entertainment this hour »

meg.james@latimes.com

@MegJamesLAT

Source:   latimes
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