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DreamWorks Animation CEO Jeffrey Katzenberg on the company’s plans to reinvent many of the titles in Classic Media’s catalog such as “Casper” ...
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Animation was trading lower early this morning guess what it flipped into the green trading higher after it announced its going old school.
Adding 450.
New titles.
Talking -- old titles to its library today with a 155 million dollar acquisition of classic media.
We're talking Fat Albert and Casper the Friendly Ghost.
And much more Powell DreamWorks -- these old favorites -- put a new spin on them get more audience to see them.
Joining us now -- up first on Fox Business interview from Glendale California DreamWorks headquarters is DreamWorks Animation CEO Jeff.
Katzenberg and all I saw Jeff was going to be and I said I hope he got trickle and -- was part of the deal.
We shared dividends that you'll you'll be happy to know and and the Lone Ranger and cast her and on and on and on this is actually one of the richest most diverse.
Libraries.
Left in the world today as you said you know 4450.
Great characters and not.
-- opportunity well opportunity in what form would you do revivals of these will they be pure play animation that I'm so -- -- -- though.
What your first project really would be.
Well they answer to that is all of them we will have opportunities -- live action movies opportunities for DreamWorks Animation there couple of titles there that we have our eyes -- we are already well into.
Doing Peabody in Sherman you remember him the course smartest dog in the world as.
And and rocky and bullwinkle so just by example there too great great.
You know IP that were already well on our way we'll have a movie out the end of next year -- -- with all of them.
We're looking at Casper the Friendly Ghost everybody was always mean to him except let the little wounded animals he ran into -- minute.
I think I'm thinking you can do you live action big time with -- but more importantly something to me that jumped out was Rudolph the red -- reindeer.
They -- on the same one every Christmas we love it.
Okay its iconic do you risk.
Sort of turning off the baby boomers with a new one or is your real priority debt to somehow turn these older characters into.
Us a more.
Greater opportunity to resonate I guess with the younger audiences.
-- I think we.
If we get to do about we have -- amazing you know Rudolph is one.
Santa's coming to town as another in.
You know we have some classics that are as important and connected to audiences today as they were when they were created.
Forty or fifty years ago but we also have the opportunity to bring into the 21 century.
These amazing amazing stories and characters I mean I grew up on lassie you know is another program I love this -- as a kid and so.
To reinvent these -- today I mean in a way it's what you know marvel has done so brilliantly with another library they've done it why superhero.
John are we get to do it now in this incredibly.
-- friendly.
-- with the 150 my million dollar price tag all cash it also includes the assumption of of the debt how much is the debt.
That that's actually quite small on this and the important thing list from an investor's standpoint is within the first year this deal will actually be accretive.
And that is before we.
Bring what we think are some pretty meaningful.
Incremental value that will come quickly here you know creating new product takes a long time.
We actually think the leverage of our sort of Blockbuster franchise movies.
Coupled with this library -- pretty quickly -- -- some great upside opportunities well.
It's a great acquisition at least -- look at this and I say there will be some real opportunity to after the bottom want to have to quickly ask you because we're asking all of our Hollywood guests.
Since the Dark -- tragedy in Colorado do you feel that that a Hollywood's.
Reaction was appropriate.
-- and that may -- there's something more to be done -- or do you feel confident that perhaps this is just we hope a one time situation.
I do you know listen we're all heartbroken about it there's no way that this is in touch every single person in this country if not around the world.
I found myself in a movie theater yesterday afternoon seen Dark Knight.
And you know it just weighs on on all of us and so you know I don't think there's anybody.
In the industry today that you know is not really you know very touched and and and hurt by this as we all are.
At the same time you know I I cannot help but feel this is the act of one Saul.
You know very very very sick human being and you know I think as always we you know we've got to remember.
The people have been touched by this but.
I I think we got -- heal and move on and you know movie theaters are one of the great escape places we all get to go to.
And deep well Jeff thank you very much for joining us on nine your new acquisition DreamWorks Animation CEO Jeff Katzenberg.
First on Fox Business we'll --
