DreamWorks chief sued over Comcast sale

DreamWorks chief sued over Comcast sale

The chief executive of DreamWorks Animation, Jeffrey Katzenberg, is facing a lawsuit from minority investors over the sale to Comcast, BBC reports.


Shareholders allege Mr Katzenberg was encouraged to vote for the $3.8bn (£2.8bn) sale to Comcast because of an "extraordinarily valuable side deal".


Once the sale completes, Mr Katzenberg will be chairman, earning a token $1 in fees - plus 7% of DreamWorks' profits.


Dreamworks declined to comment on the case.


Comcast, owner of NBC Universal, and DreamWorks struck the deal in April. DreamWorks Animation is the company behind film franchises such as Shrek and Kung Fu Panda.


Photo: BBC