Connect with us

Hi, what are you looking for?

Hasbro eyeing DreamWorks Animation/AFP


Hasbro eyeing DreamWorks Animation

Hasbro eyeing DreamWorks Animation/AFP

Hasbro eyeing DreamWorks Animation/AFP

NEW YORK, November 13- US toy maker Hasbro is in talks to buy DreamWorks Animation — the studio which produced the blockbuster series “Shrek”, the New York Times reported late Wednesday.

Hasbro, known for such toys as Transformers and My Little Pony and board games like Monopoly, would pay a mix of cash and stock, the newspaper said, quoting people briefed on the matter.

No price has been set but Jeffrey Katzenberg, CEO of DreamWorks Animation, is seeking more than $30 a share. That would value the company at just over $2.6 billion, the Times said.

DreamWorks Animation shares closed Wednesday at 22.37 dollars in New York, giving the company a market capitalization of about $1.9 billion.

DreamWorks Animation is the largest independent animation studio in Hollywood.

The company was spun off in 2004 from DreamWorks Studios, founded by David Geffen, Steven Spielberg and Katzenberg.

It posts yearly revenue of about 700 million dollars and makes just a few films a year. But some of them, such as the “Shrek” series, “Kung Fu Panda” and “Dragon”, have been huge box office hits.

In September the studio held talks with another prospective buyer, Japanese telecoms company SoftBank, but they did not yield an agreement.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...