The third time’s the charm for studio chieftain Jeffrey Katzenberg.
Comcast’s NBCUniversal confirmed on Thursday it is buying Katzenberg-led DreamWorks Animation for $3.8 billion in cash, or $41 a share.
The deal comes after two misses for Katzenberg’s studio. Japanese telecom giant Softbank and toy maker Hasbro were rumored at different times to have been interested in acquiring DreamWorks Animation only to have leaks scuttle the talks.
The acquisition will see DreamWorks Animation become part of NBCU’s Universal Filmed Entertainment Group and will be led by Chris Meledandri, the current chief of animation unit Illumination, which is behind “Minions” and “Despicable Me.”
Katzenberg — who had angled to remain in a leadership position in talks with previous suitors — will step aside and be an adviser to the firm. He will also become chairman of DreamWorks New Media, which will house the digital media outfit AwesomenessTV, which is part-owned by Verizon and Hearst.
Shares of DreamWorks Animation were up more than 24 percent to $39.97 in afternoon trading.
The pending acquisition and speculation of further consolidation also boosted shares of Lionsgate, the last independent studio of any size. Lionsgate rose 7.43 percent to $22.27.