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DreamWorks & The Biz

DreamWorks Animation Sale Finalized, Katzenberg Sees $391M Payday

According to AWN… Former DWA CEO Jeffrey Katzenberg bids staffers goodbye, walking away with more than 10 times the compensation than the next-highest-ranking studio employee, studio president Ann Daly.

Comcast’s $3.8 billion purchase of DreamWorks Animation closed on Monday, according to a report by the Los Angeles Times, with former DWA CEO Jeffrey Katzenberg bidding staffers goodbye in a memo sent to employees on Monday morning.

Katzenberg also received a more than $391 million cash-out package, with the animation studio founder (along with principals Steven Spielberg and David Geffen) reportedly walking away with ten times more money than the next-highest-ranking studio employee, DWA president Ann Daly. According to a regulatory filing, the “ginormous” payday was compensation for a total of 9,186,260 shares Katzenberg held via direct ownership, a trust, and a series of entities he owns with his wife, Marilyn — which netted a total of $376.6 million — as well as one million shares priced at $24.28 a share and at $35.30 a share and worth an additional $14.9 million.

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