Justice Department Approves NBCU and DreamWorks Animation Merger

Paul Jeffers
Jeffrey Katzenberg

After the merger, Jeffrey Katzenberg will become chairman of DreamWorks New Media.

Comcast's NBCUniversal received the blessing of the U.S. Justice Department for its $3.87 billion acquisition of DreamWorks Animation, a spokesperson said Tuesday.

The DOJ's approval means the agency found no legal reason to block the proposed merger and that it does not believe the combined company will represent an undue threat to competitors or to consumers.

NBCU first said in April that it agreed to pay $41 a share to acquire DWA, the studio run by CEO Jeffrey Katzenberg that has introduced moviegoers to Shrek, Kung Fu Panda and other franchises.

After the merger, Katzenberg will become chairman of DreamWorks New Media, an entity that will house DWA's interests in Awesomeness TV and NOVA, and he also will serve as a consultant to NBCU. 

"We're pleased the DOJ has completed its review of NBCU's pending acquisition of DWA and we look forward to closing the transaction in the coming months," NBCU's Teri Everett said Tuesday.