NBCUniversal Buys DreamWorks Animation for $3.8 Billion

Cartoons are expensive.

Screen Shot 2016-04-28 at 9.40.22 AMComcast just got a lot bigger. Its NBCUniversal division has agreed to acquire DreamWorks Animation for $3.8 billion. The animation company was previously valued at $2.3 billion.

When the deal closes at the end of the year, DreamWorks CEO Jeffrey Katzenberg will become chairman of DreamWorks New Media and a consultant to NBCUniversal.

“Having spent the past two decades working together with our team to build DreamWorks Animation into one of the world’s most beloved brands, I am proud to say that NBCUniversal is the perfect home for our company; a home that will embrace the legacy of our storytelling and grow our businesses to their fullest potential,” said Katzenberg, in a statement.