Paramount to buy DreamWorks ($1.6 billion is a lot of money)

Not my typical post to Snarkyspot, but since I'm an animator in the film industry, it's interesting to me. Paramount also owns Nickelodeon, so this purchase will bring distribution of Dreamwork Animation's CG films (Shrek, Madagascar, Wallace & Gromit) into it's pipeline.

"LOS ANGELES (Reuters) - Paramount Pictures on Sunday agreed to buy DreamWorks SKG in a $1.6 billion cash-and-debt deal that gives the Viacom Inc.-owned studio a much needed boost and ends the efforts of Steven Spielberg and two other moguls to build an independent movie and television empire."
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Paramount further won exclusive rights to populate its own TV shows with future DreamWorks Animation characters, and it will pay $75 million in cash to DreamWorks Animation, which DreamWorks Animation said it plans to use to repay debt. (more at link) Reuters Business Channel | Reuters.com