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DreamWorks Sees Writedown

Paul Allen wants to sell stock, too.

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.

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


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. 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.