Hasbro Goes Hollywood, Toymaker May Acquire DreamWorks Animation

Shares of DreamWorks Animation are soaring on reports that Hasbro is in talks to buy the studio behind the 'Shrek' franchise. DreamWorks Animation chief executive Jeffrey Katzenberg is seeking more than $30 a share for the company, according to various reports. Katzenberg is expected to stay with the company. Hasbro, which reported third-quarter sales that rose 7% year-over-year to nearly $1.5 billion, is reportedly seeking the deal in effort to find a new arena for its products, as it's done with four 'Transformers' movies it developed with Paramount Pictures. The latest, 'Transfomers: Age of Extinction' made nearly $1.1 billion at the global box office. It also counts toys like G.I. Joe and Pound Puppies among its offerings.