GLENDALE, Calif., Feb. 5, 2013 /PRNewswire/ -- DreamWorks Animation SKG, Inc. (Nasdaq: DWA) today announced that, at the recommendation of its distributor, Twentieth Century Fox, it has decided to change the domestic theatrical release date for Mr. Peabody & Sherman to March 7, 2014. The film had previously been scheduled for release on November 1, 2013. Me & My Shadow , which had previously been scheduled for release in March of 2014, will now return to development at the studio.
"Our distributor, who has had great success in March with their Ice Age franchise, has recommended we move Mr. Peabody & Sherman to the spring of 2014, which we totally agree is a much more advantageous release window," said Anne Globe, Chief Marketing Officer of DreamWorks Animation. " Mr. Peabody & Sherman is now the first of our three-picture lineup for next year."
The Company's feature film slate for 2013 and 2014 is now as follows: The Croods on March 22, 2013; Turbo on July 19, 2013; Mr. Peabody & Sherman on March 7, 2014; How To Train Your Dragon 2 on June 20, 2014 and Happy Smekday! on November 26, 2014.
"We believe the best strategy for DreamWorks Animation in the long run is to ensure that every one of our films has an optimal release date with the biggest opportunity to succeed at the box office," added Jeffrey Katzenberg, Chief Executive Officer of DreamWorks Animation. "The move of Mr. Peabody & Sherman means that we will now release two films in 2013, and we are adjusting our operating infrastructure costs accordingly."About DreamWorks AnimationDreamWorks Animation creates high-quality entertainment, including CG animated feature films, television specials and series and live entertainment properties, meant for audiences around the world. The Company has world-class creative talent, a strong and experienced management team and advanced filmmaking technology and techniques. DreamWorks Animation has been named one of the "100 Best Companies to Work For" by FORTUNE ® Magazine for five consecutive years. In 2013, DreamWorks Animation ranks #12 on the list. All of DreamWorks Animation's feature films are produced in 3D. The Company has theatrically released a total of 25 animated feature films, including the franchise properties of Shrek, Madagascar , Kung Fu Panda, How to Train Your Dragon and Puss In Boots. Caution Concerning Forward-Looking Statements This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company's plans, prospects, strategies, proposals and our beliefs and expectations concerning performance of our current and future releases and anticipated talent, directors and storyline for our upcoming films and other projects, constitute forward-looking statements. These statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of DreamWorks Animation SKG, Inc. These risks and uncertainties include: audience acceptance of our films, our dependence on the success of a limited number of releases each year, the increasing cost of producing and marketing feature films, piracy of motion pictures, the effect of rapid technological change or alternative forms of entertainment and our need to protect our proprietary technology and enhance or develop new technology. In addition, due to the uncertainties and risks involved in the development and production of animated feature projects, the release dates for the projects described in this document may be delayed. For a further list and description of such risks and uncertainties, see the reports filed by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our most recent quarterly reports on Form 10-Q. DreamWorks Animation is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise. SOURCE DreamWorks Animation
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts