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DreamWorks CEO Will Leave the Company if Comcast Buys It

Phillip Dampier April 27, 2016 Comcast/Xfinity, Competition, Consumer News, Public Policy & Gov't No Comments

dreamworksNews that Comcast was considering acquiring DreamWorks Animation SKG, Inc. in a $3.2 billion deal did not get the reception the cable giant might have hoped for, after those familiar with DreamWorks CEO Jeffrey Katzenberg reported he’d leave the company if Comcast bought it.

Katzenberg has been the face of DreamWorks since it spun off as its own company in 2004. The former Disney executive’s high-profile and hands-on management made DreamWorks’ animated hits household names, including Madagascar, Shrek, How to Train Your Dragon and Kung Fu Panda.

According to a report in the New York Times, Comcast was likely to roll DreamWorks into its own lesser-known animation division, known as Illumination Entertainment. Illumination’s current head, Chris Meledandri, would likely run both in the event Katzenberg exited.

A Comcast buyout would open the door for Comcast to produce more in-house entertainment to satisfy its cable TV customers and boost revenue opportunities. It’s a deal that might have an easier time with regulators than any additional effort by Comcast to consolidate the cable industry.

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