Dreamworks Animation IPO Planned
Paving the way for at least 10 more Shrek sequels, Dreamworks announced today that they're spinning off their animation division (catchily named "Dreamworks Animation") as its own public company. The IPO will likely occur sometime this fall and should raise nearly $650 million.
The company has five computer-generated films on tap between now and 2006 -- including Shark Tale due out in October. Given their spotty record with hand-drawn animation lately (Cimarron, Sinbad), Dreamworks Animation will stick primarily to computer animation for future films like Madagascar (with the voices of Ben Stiller and Chris Rock) and Over the Hedge (with Jim Carrey). Sounds like they'll need every penny of that $650 million just to pay the voice talent...
