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Monday, September 29, 2014

SoftBank, DreamWorks Animation talks cool - WSJ, (NASDAQ: DWA)

Japan's SoftBank Corp's talks to acquire Hollywood studio DreamWorks Animation SKG Inc have cooled, the Wall Street Journal reported, citing people familiar with the matter. DreamWorks Animation shares were down about 9 percent in extended trading. Shares had risen about 26 percent to close at $28.18 during market hours on Monday on reports that SoftBank was in talks to acquire the company.It wasn't immediately clear what had happened between Saturday, when the talks were under way, and Monday, the report said.However, it was possible that the talks could restart, with the two sides striking a deal other than an outright takeover, that could also be some kind of content partnership, the Journal said. ( Animation spokeswoman Allison Rawlings said the company will not comment on market rumors. Softbank could not be reached for comment. (Reporting By Sai Sachin R in Bangalore; Editing by Anil D'Silva)

DreamWorks Animation SKG, Inc. (DreamWorks Animation) is engaged in the development, production and exploitation of animated films and their associated characters in the worldwide theatrical, home entertainment, television, merchandising and licensing and other markets. Shares of DWA traded higher by 26.03% or $5.82/share to $28.18. In the past year, the shares have traded as low as $19.20 and as high as $36.01. On average, 1113410 shares of DWA exchange hands on a given day and today's volume is recorded at 19465156.