August 25, 2016 |
Comcast Corp.-owned NBCUniversal will fold DreamWorks Animation into its Universal films business but retain the DreamWorks campus and studios in Glendale, Calif., the companies said Tuesday. In April, Comcast agreed to buy the entertainment firm that produced Shrek , Kung Fu Panda , and other animated features for $3.8 billion. That deal closed Monday. Employee cutbacks at DreamWorks were not announced Tuesday, though they are expected among headquarters staffers. DreamWorks will now be a subsidiary of NBCUniversal, which owns feature-film brands including Universal Pictures and its movie studio, which had a blockbuster run in 2015 that it hasn't matched this year.
April 30, 2016 |
Captain Underpants is joining Comcast. The nation's cable giant agreed to acquire the money-losing studio DreamWorks Animation SKG for $3.8 billion, or $41 a share - a 51 percent premium to DreamWorks' closing share price on Tuesday, before news leaked of the deal. The multibillion-dollar deal for the studio that created the hugely popular Shrek franchise and the animated feature Captain Underpants bolsters Comcast's NBCUniversal unit and deepens its offerings in family entertainment.
April 28, 2016 |
Comcast Corp. is in talks to acquire DreamWorks Animation SKG Inc., which produced the "Shrek" and "Kung Fu Panda" franchises, for more than $3 billion, according to published reports late Tuesday. A deal would boost the Comcast-owned Universal Studios, which had a banner year in 2015 with multiple billion-dollar movie blockbusters, and add to Comcast's stable of content companies. The Philadelphia company acquired the NBCUniversal entertainment and news conglomerate in 2011. The Universal movie studio has been a surprising success of the NBCUniversal deal and now is led by former Comcast executive Jeff Shell.
February 24, 2016 |
Now that Comcast Corp. owns Rotten Tomatoes, can the website's reviews be trusted for Comcast-owned films produced and distributed by Universal Pictures? Paul Yanover, head of the Comcast-owned Fandango online movie-ticket buying service, says the answer is yes. Rotten Tomatoes and its critic-rating "Tomatometer" will retain editorial independence from the profit-rich Universal. Comcast acquired the studio as part of its deal for NBCUniversal in 2011. Fandango, which Comcast has owned since 2007, recently announced that it had bought Rotten Tomatoes and Flixster from Time Warner Inc. Terms were not disclosed.
February 19, 2016 |
As Comcast Corp.'s CFO, Michael Angelakis negotiated the deal that brought entertainment conglomerate NBCUniversal to the Philadelphia cable giant in 2011 for $30 billion. He soon followed that with a hugely successful bet expanding Universal's theme parks, further diversifying Comcast away from cable. Now Angelakis is going out on his own, with $4 billion in Comcast money, creating an independent investment fund, incorporated as "Atairos," that could produce returns or diversified properties for Comcast.
January 13, 2016 |
With on-demand streamers Netflix, Amazon, and Hulu capturing large audiences for general-interest entertainment, Comcast-owned NBCUniversal has ripped a page from cable's playbook with the niche comedy channel Seeso.com. NBCUniversal says its model of a specialized online channel with Seeso is like cable networks that cater to sports or music fans. If Seeso works, NBCUniversal expects to launch other pay-per-month streamed genre channels. "The consumer is telling us that this is a no-brainer," Evan Shapiro, NBCUniversal's executive vice president of digital enterprise, said Monday of Seeso, which he said he considered supplementary entertainment to Netflix as a "comedy channel for comedy nerds.
December 28, 2015 |
Cesar Conde, the head of Comcast-owned Telemundo network, peppers his conversation with references to popular American cable shows Homeland and Breaking Bad , and says it feels like a new era in Spanish-language TV. There is, Conde said, "a tectonic shift taking place in Hispanic media. " And Philadelphia's Comcast - which acquired the also-ran Telemundo network as part of its $30 billion deal for NBCUniversal in 2011 - is aiming to be a big part of it. The nation's cable giant, with tentacles all over the media landscape, is spending hundreds of millions of dollars to take on the No. 1 Spanish-language network, Univision, by developing faster-paced Americanized dramas, locking up the TV rights to World Cup Soccer into the 2020s, and launching live local newscasts in big TV markets, such as Philadelphia.
December 22, 2015
In the Region Spark stock sales raise $88.4M Philadelphia-based Spark Therapeutics , which hopes to make money from gene therapy treatments for rare diseases, said it has raised $88.4 million by selling two million shares of stock. Spark was spun out of the nonprofit Children's Hospital of Philadelphia , which joined in last week's sale by selling one million shares, worth $44.2 million. The hospital, through its foundation, remains the largest stockholder. Spark's most-advanced compound, SPK-RPE65, is new genetic material injected into the eye to treat rare blinding conditions.
December 9, 2015 |
Comcast Ventures, the venture arm of Comcast Corp., has taken an investment stake in its third virtual reality company, Baobab Studios, and intends to put money into others. A Comcast Ventures executive compared virtual reality to the "early days of mobile" and said that it could make viewing sports or movies a more immersive experience, which could benefit Comcast Corp., the nation's largest cable company and owner of NBCUniversal. Wired magazine recently reported that film studios have been experimenting with virtual reality, while Facebook, Google, Samsung and Sony are developing virtual reality headsets.
September 27, 2015 |
Unionized cameramen and technicians picketed NBC10's offices in Bala Cynwyd on the eve of one of this year's biggest TV events in Philadelphia - Pope Francis' weekend visit. An NBCUniversal official said early Friday evening that the media company was talking with the union. If the labor dispute is not resolved, NBC10 intends to use footage from other NBC stations or freelancers in Philadelphia covering Pope Francis, she said. Frank Keel, a spokesman for International Brotherhood of Electrical Workers Local 98, which represents the NBC10 employees, said he was unaware of Friday bargaining between the union and NBCUniversal, describing the situation as "status quo. " There are about 65 striking employees.