Hasbro is in talks to buy DreamWorks Animation, with the toy maker seeking to extend its reach into TV and film, reports Deadline.com.
DreamWorks Animation is asking for more than $30 per share, or about a 34% premium to the studio’s closing price on Wednesday, and the discussions are preliminary, Bloomberg reports.
According to Deadline, DreamWorks Animation is asking for $35 per share, or a roughly 57% premium.
DreamWorks Animation declined to comment on the report.
“However, Hasbro has made it clear that it wants to be a leader in family entertainment, a fertile ground to promote games and toys including its ‘Transformers’ property,” Deadline reports. “[On Wednesday] it promoted Stephen Davis to the newly created role of EVP-Chief Content Officer, responsible for developing content for Hasbro’s brands across multiple platforms.”
Hasbro owns 40% of Discovery Family, which recently changed its name from The Hub.