DreamWorks Animation Sets Up a New Home at 20th Century Fox
by Ethan Anderton
August 20, 2012
It's no secret that DreamWorks Animation has been looking for a new home as their deal with Paramount Pictures expires at the end of the year and wasn't going to be renewed. That's why Paramount recently worked on building up Paramount Animation with a new Spongebob Squarepants feature and a new project with J.J. Abrams, not to mention an adaptation of The New Kid. But what about the animation studio behind the Shrek, Kung Fu Panda and How to Train Your Dragon franchise? Well, Deadline reports 20th Century Fox has picked up DWA for a five-year deal lasting through 2017.
Fox already owns Blue Sky Studios, the company behind the Ice Age franchise, but they can likely co-exist peacefully. After all, Sony was also looking to pick up DWA and they have Sony Pictures Animation in their wheelhouse too. As for the business behind the deal, DWA was paying 8% of the distribution to the studio, and a higher fee was the reason for not renewing the deal at the end of this year. It's not been stated how much DWA is paying Fox for their distribution deal, but it's apparently a solid partnership.
Jeffrey Katzenberg says Fox is a "world-class distribution team and we are excited to apply their expertise, robust infrastructure and global resourcesso that DreamWorks Animation’s films can reach their fullest possible potential over the next five years." Hopefully Fox can help DreamWorks keep up their success and keep films top notch like How to Train Your Dragon and Kung Fu Panda.