DreamWorks Animation is reportedly in talks to merge with global toy manufacturer and studio, Hasbro.
Insiders have revealed that Hasbro could pay around $35 a share for DreamWorks Animation, nearly a 57 per cent premium to where the firm’s stock closed on Wednesday.
Reports of the merger talks – a partnership that would see the powerhouse operate under a new title DreamWorks-Hasbro – were first reported by Deadline.
A further potential deal for DreamWorks is its ongoing discussion over the sale of its stake of AwesomenessTV to Hearst Publishing for $81.5million.
Variety reports that the Hasbro talks signal Dreamworks’ attempts to find a partner with whom CEO Jeffrey Katzenberg can restructure a company that has seen a turbulent past at the box office, with Rise of the Guardians, Turbo and Mr. Peabody & Sherman falling short of the mark.
Meanwhile, Hollywood Reporter notes that a merger with Hasbro would ‘significantly boost DreamWorks’ presence in consumer products, as well as live-action films and television.’
Hasbro has recently appointed a new chief content officer – Stephen Davis – who will oversee Hasbro Studios in Los Angeles and the firm’s partial interest in the Discovery Family TV channel.
So far, all parties involved in the merger talks have declined to comment.