DreamWorks Animation could soon have a new owner in Japan's SoftBank.
Jeffrey Katzenberg is in talks to sell his toon studio to the conglomerate. The deal would value DWA at around $3.4 billion, according to The Hollywood Reporter, which first reported the news.
Katzenberg would remain the head of DWA should the deal occur, with the exec signing a five-year contract to remain its CEO.
SoftBank is said to be offering $32 a share to purchase DWA, higher than its current stock price of $22, as of Friday.
DreamWorks Animation, which has released its films through 20th Century Fox, starting with "The Croods," last year, has a mixed record at the box office of late. While "How To Train Your Dragon 2" is a hit, earning $611 million this summmer, it missed with "Mr. Peabody & Sherman," taking in just $273 million. "Turbo" also didn't live up to expectations, although the film has since spun off an animated series on Netflix.
However, DWA has scored considerably with its acquisition of AwesomenessTV, a digital network targeting a young online audience -- something that likely helped attract the attention of SoftBank, which has a number of major investments in digital platforms.
The company owns significant shares in Alibaba, Sprint, Yahoo and GungHo Online Entertainment, a mobile gamemaker.
DreamWorks Animation has operated as a publicly traded company since 2004.
The potential takeover by SoftBank comes as DWA hired Fazal Merchant last month to replace Lew Coleman as its new chief financial officer. Merchant is a former DirecTV and Barclays Capital executive.
DreamWorks Animation declined to comment on the news, saying it doesn't "comment on rumors and speculation."
© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC
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