ANIMATOR MAY DRAW $23 TO $25 PER SHARE $700 MILLION LIKELY IN STUDIO SPINOFF IPO.Byline: Greg Hernandez Staff Writer GLENDALE - With ``Shark Tale'' in its second week as the nation's No. 1 movie, underwriters on Tuesday set the terms for DreamWorks Animation SKG's initial public offering at 29 million shares with an estimated price of $23 to $25 per share and expected proceeds of $700 million. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. an amended filing with the Securities and Exchange Commission, the company will offer about 25 million common shares while an additional 4 million shares will be offered by current shareholders. The company will not receive any of the proceeds from shares sold by current shareholders, who include Microsoft co-founder Paul Allen
Paul Gardner Allen (born January 21, 1953 in Seattle, Washington) is an American entrepreneur. With Bill Gates, he formed Microsoft. . The new company proposes to go public in July, trading on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors DWA DWA DreamWorks Animation (stock symbol) DWA Domino Web Access DWA Desert Water Agency (US) DWA Data Warehouse Administrator DWA Designated Waiting Area DWA Dynamic Wavelength Allocation . DreamWorks Animation, which earlier this year saw its ``Shrek 2'' become the top-grossing animated film of all time, is the highest-profile entertainment company to come up with an IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. in several years. It will be separate from the parent company formed 10 years ago by Jeffrey Katzenberg, Steven Spielberg and David Geffen. ``Due to pedigree, this name will be very closely scrutinized by people looking to make money in the entertainment and media space,'' said Rich Steinberg, chief investment officer of Steinberg Global Asset Management Co. in Boca Raton. ``People want to make sure success at the box office and success to the bottom line are equal goals.'' In the past decade, the DreamWorks animation unit has released computer-animated hits such as ``Shrek'' and ``Antz,'' as well as ``Shrek 2'' and ``Shark Tale.'' But its traditional hand-drawn movies, including ``Sinbad: Legend of the Seven Seas'' and ``Spirit: Stallion of the Cimarron,'' have not fared nearly as well. On the television side, DreamWorks' animated series ``Father of the Pride'' has not exactly been a ratings smash for NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. . ``I think it's a difficult time for the industry,'' Steinberg said. ``If you look at media stocks in general, it's been a tough ride. I think people are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. the light at the end of the tunnel.'' David Menlow, president of IPO research firm IPOFinancial.com, said Tuesday that DreamWorks Animation should have a much easier time of it than Pixar Animation Studios did when it went public in the mid-1990s. After an unbroken string of blockbusters including ``Finding Nemo,'' ``Monsters Inc.'' and ``Toy Story,'' Pixar has taken the success of computer-animated films to unprecedented levels. ``What the success of Pixar has done is to make this offering much more desirable and an easier sale because people now understand the power of this kind of animation,'' Menlow said. DreamWorks plans to release the DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. version of ``Shrek 2'' in November, and it is certain to be one of the season's biggest sellers and most popular rentals. Its release will come just as ``Shark Tale'' begins to fade from theaters. The film has already grossed nearly $100 million domestically in less than two weeks. ``This was apparently a carefully orchestrated issue as far as the timing of the announcement of the terms,'' Menlow said. Greg Hernandez, (818) 713-3758 greg.hernandez(at)dailynews.com |
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