DreamWorks Sees Writedown

Paul Allen wants to sell stock, too.
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DreamWorks Animation (DWA) filed for a $330 million stock offering by shareholders led by Paul Allen.

The Glendale, Calif., movie studio also said it expects to take a writedown in the fourth quarter for the poor performance of its

Flushed Away

movie. DreamWorks said the film has done $40 million in domestic box office, compared with $143 million in capitalized film inventory costs. DreamWorks said it couldn't predict the amount of the writedown but said it could be material.

The company said selling shareholders in the offering will include affiliates of Paul Allen, Lee Entertainment and

Viacom

(VIAB) - Get Report

. Founders Steven Spielberg, Jeffrey Katzenberg and David Geffen won't sell any shares, nor will DreamWorks itself.

Shares fell 38 cents Wednesday to $27.83.