Comcast said it expects the deal to receive regulatory approval and take effect by the end of the year.
Comcast said DreamWorks “will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango, and NBCUniversal Brand Development.”
DreamWorks CEO Jeffrey Katzenberg will give up his leadership position. But he will remain involved with DreamWorks’ ownership interests in two digital ventures: Awesomeness TV and NOVA. His title will be chairman of DreamWorks New Media. Katzenberg will also be a consultant to NBCUniversal, the company said.