NBCUniversal acquired DreamWorks Animation today, the company announced in a press release. This follows rumors that NBCUniversal's parent company Comcast offered to spend $3 billion on the movie studio behind hits like Shrek and How to Train Your Dragon.
The $3.8 billion takeover will be finalized by the end of the year, NBCUniversal said. As a result of the acquisition, DreamWorks Animation CEO and co-founder Jeffrey Katzenberg has a new title: Chairman of DreamWorks New Media.
More notable is that NBCUniversal — which has a stake in Polygon's parent company, Vox Media — will now have access to the entire DreamWorks Animation library. Not only does that include the studio's major franchises, but DreamWorks' Classics division also boasts Where's Waldo and Rudolph the Red-Nosed Reindeer in its portfolio.
Comcast was said to be looking into building theme parks based on DreamWorks Animation's characters, among other consumer categories. The studio has already broadened its reach beyond the big screen; its franchises have a major presence on television, too.
NBC's sister company Universal Pictures is also home to some major animated characters, namely the ubiquitous Minions.
The latest DreamWorks Animation release was this January's Kung Fu Panda 3, which went on to gross over $500 million. Next up is the musical comedy Trolls, in theaters this November.