Now It's Hasbro in Talks to Buy 'Shrek' Studio DreamWorks
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Transformers and My Little Pony toymaker Hasbro is in talks to acquire DreamWorks Animation SKG, the production studio behind “Shrek” and “Madagascar,” according to people briefed on the matter.
DreamWorks Animation, led by Jeffrey Katzenberg, is asking for more than $30 a share, according to one of the people, who asked not to be identified because the talks are private. The discussions are preliminary, the people said. The stock jumped as much as 29% to $28.87 before the markets opened.
The studio, with a market value of about $1.9 billion, would further Hasbro’s involvement in entertainment — something the toymaker pursued with its stake in TV’s Hub cable channel, only to find tough going in a competitive space. Hasbro reduced its share of the network to 40% from 50% as it was renamed Discovery Family Channel this fall and broadened its programming mission beyond kids.
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