Dream Works Partnership to Dissolve

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DreamWorks Animation SKG Inc. said in a filing Wednesday that investors, including Paul Allen and Viacom Inc., will sell $330 million of shares in an offering that will dilute the controlling partnership of the movie studio.


The sale ends a 10-year collaboration between Allen, Viacom and the creators of the Glendale-based studio: Jeffrey Katzenberg, Steven Spielberg and David Geffen, who are not selling any shares. Allen’s original investment alone was more than $700 million.


Allen, the company’s largest single holder, has more than 14 percent and signaled his intention to sell in early October. The timing of the sale in not known, Dream Works said.


Shares in Dream Works were down 50 cents to $27.71 early Wednesday. The company’s 2004 IPO brought $28 a share.

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