DreamWorks Animation Is A Nightmare
Sep. 29, 2014, 10:42 AM
- DreamWorks Animation (DWA +16.6%) could benefit enormously from an acquisition by a larger company, according to media analysts.
- Though the studio has several valuable franchises, earnings have been overwhelmed by a few theatrical misfires.
- A larger slate of films and expanded distribution network in a takeover could help smooth out results.
- Talk of a takeover by Softbank has simmered down a bit this morning, although other Asian media giants could still be lurking, say industry insiders.
Sep. 29, 2014, 9:16 AM
Sep. 29, 2014, 7:43 AM
Sep. 28, 2014, 5:06 AM
- SoftBank (OTCPK:SFTBY) is in talks to buy DreamWorks Animation (NASDAQ:DWA) in a deal that would value the company at $3.4B, states The Hollywood Reporter.
- Under the proposed deal, DWA founder and CEO Jeffrey Katzenberg would sign a five-year contract to remain with the company.
- SoftBank is said to have offered $32 per share for DreamWorks, a substantial premium to the stock's Friday closing price of $22.36.
Sep. 9, 2014, 4:29 AM
- A new federal lawsuit accuses Walt Disney (NYSE:DIS), Sony Pictures (NYSE:SNE), DreamWorks Animation (NASDAQ:DWA) and others of conspiring not to hire each others' workers, artificially depressing wages.
- Many emails have surfaced supporting the allegations which display company execs discussing "no-raid" agreements.
- The lawsuit covers conspiracy claims dating all the way back to 1986, with other defendants entering similar agreements by the mid-2000s.
Aug. 20, 2014, 7:07 AM
Aug. 18, 2014, 11:44 AM
- The top 12 films in the U.S. took in $128.8M over the weekend to mark a 6% improvement over last year's corresponding haul.
- U.S. box office sales for August are on track to set a record for the month.
- The development gives some support to the argument that the weak box office in June and July was tied to a weak slate - not fundamental demand shifts.
- Teenage Mutant Ninja Turtles (VIA, VIAB) and Guardian of the Galaxy (NYSE:DIS) took in $28.4M and $24.7M, respectively, to dominate the weekend - while Expendables 3 (NYSE:LGF) limped in with a disappointing $16.3M opening.
- Related stocks: RGC, AMC, CNK, IMAX, RLD, SNE, CMCSA, TWX, MCS, RDI, CKEC, FOXA, DWA.
Aug. 18, 2014, 9:22 AM
- DreamWorks Animation (NASDAQ:DWA) hires Fazal Merchant to be its new CFO.
- The exec was hired away from DirecTV where he was the CFO of the Latin America business.
Aug. 15, 2014, 2:59 PM
- How to Train Your Dragon 2 took in $5.6M on its opening day in China to put its box office cume over the $500M mark.
- The movie was produced by DreamWorks Animation (DWA +1.3%) and distributed by 21st Century Fox (FOXA +0.1%).
- What to watch: Analysts note that positive reviews for Dragons 2 in many key global markets bodes well for the franchise after the initial box opening in the U.S. underwhelmed.
Aug. 11, 2014, 8:11 AM
- A SEC probe into DreamWorks Animation (NASDAQ:DWA) over the slow timing of its write-off on Turbo continues to linger over the company.
- On top of the government investigation, several class action shareholders lawsuits are off and running.
- Drawing some notice are the stock sales by CEO Jeffrey Katzenberg last October and November - several months after Turbo's release, but before the writedown announcement.
Jul. 30, 2014, 1:30 PM
- Shares of DreamWorks Animation (DWA -12.6%) sink to a 52-week low after the company misses Q2 earnings estimates.
- On top of the weak performance in the quarter from the studio, the company is being threatened in several shareholder class-action lawsuits.
- A couple of investment firms soured on DWA amid the new developments. Cowen lowered its full-year EPS forecast to -$0.15 and FBR Capital lopped off $4 from its PT to take it to $20.
Jul. 30, 2014, 9:09 AM
Jul. 29, 2014, 5:41 PM
Jul. 29, 2014, 4:22 PM
- Dreamworks Animation (NASDAQ:DWA): Q2 EPS of -$0.18 misses by $0.16.
- Revenue of $122.3M (-42.7% Y/Y) misses by $15.8M.
Jul. 28, 2014, 6:02 PM
- DreamWorks (NASDAQ:DWA) has hired senior ex-Disney exec and 30-year movie industry vet Mark Zoradi to be its COO. Current COO Ann Daly has been promoted to president, and CFO Lew Coleman has been given the title of vice chairman.
- Most recently, Zoradi was the president of Disney's Motion Picture Group. His work at the media giant has included "responsibility for the international theatrical and home entertainment marketing and distribution of Disney, Touchstone, and Pixar films."
- The announcement comes ahead of tomorrow's Q2 report.
Jul. 28, 2014, 5:35 PM
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DreamWorks Animation SKG, Inc. engages in the business of development, production and exploitation of animated films and their associated characters in the worldwide theatrical, home entertainment, television, merchandising and licensing and other markets. It operates through two segments: Film... More
Industry: Movie Production, Theaters
Country: United States
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