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unchikun
10-12-2006, 11:06 PM
DreamWorks Animation investor Paul Allen is dissolving the partnership that controls the movie studio and will sell some of his stake in the company.

Allen demanded that the process be started soon after the Nov. 3 release of "Flushed Away," his investment fund, DW Investment II, said in a statement Wednesday.

http://seattletimes.nwsource.com/html/businesstechnology/2003300352_dreamworks12.html

CGmonkey
10-13-2006, 05:54 PM
how unfortunate! :(

3DDave
10-13-2006, 06:02 PM
"Flushed Away", sounds like that is what happened to his investment!

Xevious
10-13-2006, 06:25 PM
"Flushed Away", sounds like that is what happened to his investment!

I was thinking the same thing. You beat me to the post.

Papa Lazarou
10-13-2006, 07:51 PM
I thought Dreamworks were more or less doing okay. I know Wallace and Gromit wasn't as big a hit as they were hoping for, but since they got rid of their 2d department a few years back, they haven't had any major flops and they seem to have at least 1 solid hit every year.

Maybe he's anticipating CG fatigue, with all the talk of an oversaturated market lately it probably doesn't seem like the safest place to have such a large investment.

beaker
10-13-2006, 10:05 PM
Paul Allen loaned Spielberg, Katzenberg & Geffen 500 million to startup Dreamworks. The whole going public with the animation division and selling off the live action side was to raise enough capital in order to pay back that debt. They didn't exactly have 500 million just laying around to give him.

Paul Allen received a percentage of the sale and a fair amount of stock. He is simply cashing out on his 12 year investment. It is what any smart investor would do.

http://en.wikipedia.org/wiki/DreamWorks_SKG

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