Soros Strategic Partners LP and Dune Ent. II Llc., an affiliate of Dune Capital Management LP, have signed a definitive agreement with Viacom Inc. to purchase the film library of Paramount Pictures' DreamWorks Llc. in a transaction that values the film library at $900 million. The library sale, subject to customary closing conditions, is expected to close in April. The transaction completes the second stage of the DreamWorks acquisition.
DreamWorks Animation SKG Inc. announced results for the fourth quarter and full year ending Dec. 31, 2005.
Within the release, DreamWorks officially nixed past projects TORTOISE AND THE HARE and TUSKER. Both films were written off for book purposes in 2003. Because DreamWorks Animation plans to abandon the rights to these films in 2006, it receives the associated tax benefit at this time. This has resulted in an increase to net income of approximately $28.0 million, or $0.27 per share, in the fourth quarter.
DreamWorks Animation has implemented an HP solution based on a service-oriented architecture that simplifies and consolidates key business operations.
A service-oriented architecture (SOA) is an approach to building and managing IT infrastructures using standards-based software and services as autonomous, re-usable components.
The Academy Award-nominated WALLACE & GROMIT: THE CURSE OF THE WERE-RABBIT is premiering on DVD and VHS Feb. 7, 2006, from DreamWorks Home Ent. The film is featured on more than 50 top ten lists and honored with multiple critics awards and industry honors including 16 Annie Award nominations.
Terry Press moves from head of marketing for DreamWorks SKG for the past 10 years to DreamWorks Animation as worldwide head of marketing.
Press joins the animation company now that DreamWorks SKG has been acquired by Paramount Pictures. Paramount is responsible for the distribution of DreamWorks Animation films. Press will be the DreamWorks Animation senior liaison with the marketing team at Paramount.
Japanese publisher Kadokawa Holdings Inc. announced it will sell its 2.91% stake in DreamWorks SKG to Paramount Pictures for about $21 million by the end of February, according to VARIETY.
This week, Paramount, a unit of Viacom Inc., finalized its purchased of the previously privately held DreamWorks in a $1.6 billion cash-and-debt deal.
Paramount Pictures, a unit of Viacom Inc., has closed on its acquisition of DreamWorks SKG for $1.6 billion in cash and assumption of debt. The announcement was made today (Feb. 1, 2006) by Paramount chairman/ceo Brad Grey. The company noted that it is well along in its process to sell the DreamWorks live-action film library.
Under the agreement, Steven Spielberg and David Geffen of DreamWorks will remain in their respective roles as producer/director and chairman.
SCI FI Channel will team again with Steven Spielberg, screenwriter Les Bohem and DreamWorks Television, for the ambitious 12-hour miniseries event NINE LIVES, it was announced Jan. 12, 2006, at the Television Critics Press Tour. The group's last collaboration was 2003's groundbreaking, Emmy Award-winning 20-hour miniseries, Steven Spielberg Presents TAKEN. NINE LIVES is slated to air in 2007.
For the first time, the Producers Guild of America has issued nominations for Producer of the Year Award Animated Film. The list of five is a list of the top performing animated features of 2005. Box office champ MADAGASCAR from DreamWorks earned Mireille Soira a nod. For Disneys CHICKEN LITTLE the nominee was Randy Fullmer. Foxs ROBOTS Jerry Davis, John C. Donkin and William Joyce were all nominated. For Warner Bros. CORPSE BRIDE, the nominees are Tim Burton and Allison Abbate.
DreamWorks Animation announced two new hires and a promotion, to support the company's strategy of producing two CG films a year plus direct-to-video movies.
John Batter rejoins DreamWorks Animation as a senior production executive; Jane Hartwell, a nine-year veteran with the company, has been promoted to head of global production and Nancy Bernstein joins as head of production for the studio's Glendale, California campus.
Paramount Pictures has signed a definitive agreement to acquire DreamWorks SKG for $1.6 billion in cash and assumption of debt. The deal brings Paramount key assets, including:
* All of DreamWorks' current projects in development* An ongoing production partnership with Steven Spielberg and David Geffen* An exclusive, worldwide distribution agreement with DreamWorks Animation beginning in 2006* DreamWorks' live-action library* DreamWorks' television division and its properties
Lewis Coleman, a DreamWorks Animation board member and former vice chairman and cfo of Bank of America, has been named president of DreamWorks Animation.
Coleman, reporting to DreamWorks Animation ceo, Jeffrey Katzenberg, will lead the company's efforts with Katzenberg and coo Ann Daly, as it continues to produce two computer-generated animated movies per year and expands its business activities in direct-to-video movies, a growing licensing business, Broadway musicals and live entertainment. All execs who previously reported to Katzenberg will now report to Coleman.
Activision Inc. and DreamWorks Animation SKG jointly announced that the companies have agreed to a new long-term, broad-based strategic alliance. The companies signed a multi-year agreement, which grants Activision the exclusive videogame rights to upcoming feature films from DreamWorks Animation.
Karl M. von der Heyden has been elected to the DreamWorks Animation board of directors.
He served as vice chairman, a member of the board of directors and cfo of PepsiCo Inc. from September 1996 to February 2001. During that period, he was instrumental in the company's spinoff of its restaurant operations, the acquisitions of Tropicana and Quaker Oats, and the IPO of the Pepsi Bottling Group.
DreamWorks has called off its talks with NBC Universal to buy the independent powerhouse, reports the trades. On Sept. 26, 2005, after two months of exclusive talks between the studios, DreamWorks founder and chief negotiator David Geffen walked away from the table when GE and Universal tried to renegotiate the price after previously settling on a price of around $1 billion.
DreamWorks Animation and Kellogg Co. have sealed a multi-year promotional agreement, reports VARIETY. Starting in 2006, Kellogg will have exclusive worldwide rights to DreamWorks film and home video properties for cereals, toaster pastries, cereal bars and fruit-flavored snacks, and exclusive U.S. rights for pancakes, waffles, cookies and crackers. Kellogg will market in more than 180 countries the DreamWorks-themed products on television, online and in stores. This marks the first deal between the companies. The agreement gives Kellogg exclusivity to DreamWorks, but not visa versa.
Hot off the announcement that MADAGASCAR 2 will hit theaters in 2008, DreamWorks Animation has announced that KUNG FU PANDA will also be released that year, reports VARIETY. The studios still hopes to release two animated films per year at least until 2009. PANDA will star Jack Black as the voice of a lazy panda prophesied to save the Valley of Peace. John Stevenson and Mark Osborne are set to direct with Melissa Cobb producing from a script by Dan Harmon and Rob Schrab.
ABC and TNT have dished out approximately $25 million to share the network broadcasting rights to Steven Spielbergs WAR OF THE WORLDS, reports VARIETY. Previously, HBO secured the exclusive pay TV window from summer 2006 through the end of 2007. ABC will be able to air the film, beginning the second quarter of 2008 exclusively for three years. ABC plans to air WORLDS three times in primetime before it goes to TNT for multiple runs over the next two years. In 2013, HBO will gain a second pay window of 12 months after which the film will return to ABC and TNT.
DreamWorks Pictures has extended head of production Adam Goodmans contract term for an additional four years through 2009.
"Adam Goodman has been an integral part of our production team since the inception of the studio and, over the past year and a half, he has more than proven his capability to lead that team, said DreamWorks principal David Geffen. We are very happy that he plans to continue to spearhead our live-action slate."
NBC Universal is in talks to buy DreamWorks SKG, in what could be a deal worth $1 billion, according to the trades. Universal Studios already distributes DreamWorks' videos and DVDs via Universal Studios Home Video, and its films internationally through United Pictures International, the foreign distributor jointly owned by Universal and Paramount. Additionally, the two studios have co-financed films such as the 2000 Oscar-winner GLADIATOR and Steven Spielberg's upcoming MUNICH, which Universal will release in December.
DreamWorks Animation SKG and McDonald's Corp. announced a two-year worldwide marketing and promotional relationship. The first film associated with the tie-in will be SHREK 3, slated for release in 2007, and will include such signature promotions as McDonald's Happy Meals.
DreamWorks Animation SKG Inc. has given chairman Roger Enrico more control over finances and legal matters for the company as the Securities and Exchange Commission conducts an informal probe into financial disclosures and trading of DreamWorks shares, according to BLOOMBERG NEWS.
CFO Kristina Leslie and general counsel Katherine Kendrick will report to Enrico and chief exec Jeffrey Katzenberg. They previously reported to Katzenberg and coo Ann Daly, who will primarily focus now on film production and home video sales, the company said.
The TRANSFORMERS live-action feature, based on the globally popular franchise will open July 4, 2004, announced DreamWorks, Hasbro Inc. and Paramount Pictures.
The movie will be directed by Michael Bay (THE ISLAND and ARMAGEDDON) from a screenplay being written by Alex Kurtzman and Roberto Orci (THE ISLAND). Steven Spielberg is exec producing with Lorenzo di Bonaventura, Tom DeSanto (the first two X-MEN) and Don Murphy (THE LEAGUE OF EXTRAORDINARY GENTLEMEN) serving as co-exec producers.
DreamWorks Animation SKG Inc. confirmed that it has been informed by its principal shareholders that they will not proceed at this time with the secondary offering of $500 million of Class A common stock which was filed in a preliminary registration statement with the Securities and Exchange Commission on March 28, 2005.
Animation veteran Frank Gladstone has joined IDT Ent. as vp, artistic development, responsible for all artistic training and recruitment issues as well as community outreach and education and also will have creative input on story development and provide assistance with the acquisition of outside projects.
