DreamWork's (DWA) Katzenberg 'Not Afraid' of Viacom (VIA-B) Animation Announcement
Tweet
Share
E-mailGet Alerts DWA Hot Sheet
Join SI Premium – FREE
At the mega conference today, DreamWorks Animation (NYSE: DWA) CEO and Zynga board member Jeffry Katzenberg appeared to be in fits.
Closer examination revealed that Katzenberg, 60, was simply overcome with laughter. Evidently, a reporter from the Wall Street Journal asked, at Allen & Co.'s media conference, whether or not he was nervous following Viacom's (NYSE: VIA-B) decision to create a rival animation division.
A Ringling College of Art and Design honorary doctorate recipient, Katzenberg had to fight back tears as he stated: "Their going into the lower-end of the animation business isn't going to impact DreamWorks at all."
Upon regaining his composure, Katzenberg ordered another South African Rooibos tea "with a touch of Chambord" before commenting, "Next year is a moment of opportunity for us...we get to evaluate."
Viacom-owned Paramount made the announcement of opening an animation division Wednesday.
Between bites of quail sashimi with grilled brioche, Katzenberg uttered, almost offhandedly, that his animation studio "isn't for sale," and to "tell [Viacom CEO Philippe] Dauman I like my shirts double starched."
DreamWorks shares are up 2.7 percent on the session, while Viacom is 1 percent better.
Closer examination revealed that Katzenberg, 60, was simply overcome with laughter. Evidently, a reporter from the Wall Street Journal asked, at Allen & Co.'s media conference, whether or not he was nervous following Viacom's (NYSE: VIA-B) decision to create a rival animation division.
A Ringling College of Art and Design honorary doctorate recipient, Katzenberg had to fight back tears as he stated: "Their going into the lower-end of the animation business isn't going to impact DreamWorks at all."
Upon regaining his composure, Katzenberg ordered another South African Rooibos tea "with a touch of Chambord" before commenting, "Next year is a moment of opportunity for us...we get to evaluate."
Viacom-owned Paramount made the announcement of opening an animation division Wednesday.
Between bites of quail sashimi with grilled brioche, Katzenberg uttered, almost offhandedly, that his animation studio "isn't for sale," and to "tell [Viacom CEO Philippe] Dauman I like my shirts double starched."
DreamWorks shares are up 2.7 percent on the session, while Viacom is 1 percent better.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Risk-reward in this chip stock is extremely attractive: UBS
- MongoDB analyst day preview: Evercore ISI says firm needs to show AI momentum
- Wall Street analyst sees 150%+ upside potential in this biotech stock
Create E-mail Alert Related Categories
Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
