Comcast eats Dreamworks

Comcast says it will acquire Kung Fu Panda and Shrek maker Dreamworks Animation for $3.8bn.

The US telecoms giant will pay $41 per share to bring in the digital cartoon film studio that isn't Pixar.

Comcast did not say exactly what its plans are for Dreamworks Animation, though it did say the biz will become part of its Universal Filmed Entertainment Group. Dreamworks CEO Jeffrey Katzenberg will stay on chairman of the new division. ®