Comcast Corp. has purchased movie studio DreamWorks Animation (DWA) for $3.8 billion.

The deal will bring a sizable library of youth-oriented content under control of NBC Universal, which is owned by Comcast.

‘DreamWorks Animation is a great addition to NBCUniversal,’ said Steve Burke, CEO of NBCUniversal, in a press release.

‘Jeffrey Katzenberg and the DreamWorks organization have created a dynamic film brand and a deep library of intellectual property. DreamWorks will help us grow our film, television, theme parks and consumer products businesses for years to come.’

DreamWorks Animation’s catalogue includes Shrek, Madagascar, Kung Fu Panda and How to Train Your Dragon.

As part of the deal, DWA CEO and co-founder Jeffrey Katzenberg will become chairman of the newly-formed DreamWorks New Media. The new company will oversee the DreamWorks owned digital media company Awesomeness TV and NOVA.

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