Dreamworks Animation to float on the stock martket
Thursday, September 30th, 2004 7:03PM CDT
Categories: Movie News, Company NewsPosted by: Raymond T. Views: 53,146
E-Commerce News reports plans by DreamWorks to split off its animation business and to float it on the stock market as an IPO have been fueled by a string of box office hits. Its latest blockbuster was "Shrek 2" which has been the third-highest grossing film of all time in the U.S. and broke the single-day box office sales record by grossing $44.8 million, according to the SEC filing.
The article mentions that if Dreamworks splits its Animation department and and have it float on the stock market, based on the recent succes of Shrek 2, Dreamworks Animation could stand to make a fixed profit.
Since Dreamworks, and most likely Dreamworks Animation, will play a major part in the making of the upcoming Transformers movie, set for release in 2006, this news could mean that Dreamworks may be willing to invest more time and money into future projects, including into the Transformers.
The article mentions that if Dreamworks splits its Animation department and and have it float on the stock market, based on the recent succes of Shrek 2, Dreamworks Animation could stand to make a fixed profit.
Since Dreamworks, and most likely Dreamworks Animation, will play a major part in the making of the upcoming Transformers movie, set for release in 2006, this news could mean that Dreamworks may be willing to invest more time and money into future projects, including into the Transformers.
Credit(s): www.ecommercetimes.com
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