Japanese telecom SoftBank tipped to acquire DreamWorks Animation

Japanese telecommunications and internet giant SoftBank is reportedly working on a deal to acquire DreamWorks Animation. Reports claim SoftBank is offering US$32 per share compared to DreamWorks Animation’s current $22 price. It isn’t clear how far along the deal is though. It would seem SoftBank is looking for a new way to grow Sprint’s market in the US after its plans to purchase T-Mobile didn’t push through. Or perhaps they want to grow DreamWorks’ content in Japan.

DreamWorks Animation is behind works such as How To Train Your Guardian franchise, Shrek, Croods, and Madagascar. The company has been struggling in the past few years because its fortunes are directly tied to box office performance. Some of the misses include Mr. Peabody & Sherman, Turbo, and Rise of the Guardians.

Source: Wall Street Journal + The Hollywood Reporter | Via: The Verge