Another Japanese Firm Interested In Hollywood Movie Studio, Dreamworks Animation Gets A Buyer

A Japanese Telecommunication firm is reportedly eyeing acquisition of Dream Works Animation, New York Times reported.

Although the alleged offer has not been confirmed, the reported quoted an earlier article by Hollywood Reporter that a source stated that Soft Bank Corporation is offering a value of at least $3.4 Billion for the studio, which is $32 per share.

Quoting a DreamWorks Animation spokeswoman, Allison Rawlings, the studio will not comment on the reports.

However reports said its head, former Disney Executive Jeffrey Katzenberg is looking for a buyer after declining sales.

This is not the first time that a Japanese company has shown interest in a movie studio in Hollywood, Sony Corp. Has acquired Columbia Pictures in 1989.

Reuters meanwhile reported that SoftBank is a major stockholder of Alibaba, a Chinese company engaged in e-commerce. SoftBank also had a new unit in the company, which SoftBank Internet and Media with reports indicating that the Japanese company is gearing towards producing media contents.

The Japanese firm is one of the telecommunication giants in Japan with multi-billion assists reporting cash on hand assets of $17 billion. Even the Japanese firm's spokesperson, according to reports has not commented on the matter.

DreamWorks Animation latest film was 'Mr. Peabody & Sherman," it didn't do well at the box office. Its latest movie the 'Crods and Turbo' showed weak performances as well. Its highest grossing film is the Shrek movie and its sequels. Shrek won the studio the Oscars for Best Featured Animated Film in 2001.

DreamWorks Animation stemmed from DreamWorks Studios.

The studio also produced 'Megamind, Rise of the Guardians and How to Train Your Dragon 1 and 2.

By 2015 it is expected to release Kung Fu Panda 3 and lined up other movies until 2018, which includes How To Train Your Dragon 3 and Madagascar 4.