DreamWorks Ani picks up charitable stock


DreamWorks Animation SKG said Wednesday it has agreed to buy back about $24.5 million of stock from Wunderkinder Foundation, a charitable organization originally established by director and DreamWorks SKG founder Steven Spielberg.

The company agreed to repurchase about 769,500 shares of common stock at a price of $31.79 per share. The shares were donated to the foundation by Spielberg, who is the beneficial owner of more than 5% of the company's outstanding Class A common Stock.