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Paul Allen sells DreamWorks Animation shares


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  • Paul Allen sells DreamWorks Animation shares

    Paul Allen sells DreamWorks Animation shares

    Microsoft co-founder's stake worth about $123 million

    Associated Press
    Feb 14, 2009, 01:22 PM ET

    Microsoft Corp. co-founder Paul Allen has sold off all of his remaining shares in DreamWorks Animation SKG Inc., according to a securities filing Friday, ending his involvement in a company he helped launch more than a decade ago.

    The billionaire invested $500 million in DreamWorks SKG when it launched as a combination live-action and animation studio in October 1994. Allen's remaining stake was worth about $123 million, according to an Associated Press calculation, although it is unclear exactly when in 2008 he sold his shares.

    Shares ranged between $20.39 and $32.73 last year.

    In December 2007, Allen owned 4.6 million shares, or 18.6 percent of all Class A common shares.

    Glendale-based DreamWorks Animation, the studio behind the "Shrek" and "Madagascar" franchises, went public in 2004 in large part to begin repaying Allen's investment.

    Its sister company, privately held DreamWorks SKG, is still run by director Steven Spielberg, and recently signed a distribution deal with The Walt Disney Co. The live-action movie house made "Tropic Thunder" and "Transformers."

    The filing said Allen and his investment fund, DW Investment II Inc., had no stake in DreamWorks Animation as of Dec. 31.

    Allen had been reducing his investment in the company since at least August 2007, when he sold 10 million shares plus another tranche worth $150 million, and resigned from the board. He had about 6 million shares left after those transactions.

    The stock was then trading around $30, meaning to date Allen likely made his money back plus more on his investment.
    Paul Allen sells DreamWorks Animation shares
    "If you don't know how to draw, you don't belong in this building" - John Lasseter 2006

  • #2
    Re: Paul Allen sells DreamWorks Animation shares

    Maybe he needs some extra dough to feed this guy:

    Waiting for Godot


    • #3
      Re: Paul Allen sells DreamWorks Animation shares

      As the article states, he's been slowing offloading his DW investments for several (12) years.


      • #4
        Re: Paul Allen sells DreamWorks Animation shares

        But what's the flip side to this story. Who, if anyone, picked up the bulk of his shares?
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