Thursday, July 30, 2015
DreamWorks: Fine Animated Features and Real Estate Flips
Diversify is sound business advice and, according to Cartoon Brew, DreamWorks Animation has done just that:
"After announcing a quarterly loss of $263 million last February, DreamWorks sold its campus to SunTrust, and as Cartoon Brew reported in March, SunTrust began the process of flipping the property immediately after buying it, initially listing it for $250 million."
According to the article, DreamWorks has a profit-sharing deal that allows them to dine upon the proceeds of the resale.
Possibly Netflix hired all the 500 laid off employees.
My last time at the Glendale studio was in 2014 for a preview of Peabody and Sherman, which may've been the fat straw that broke the studios back. i09 combs through the film's wake.
Anyway, DreamWorks Glendale had a great breakfast buffet set up for the film with all these great little Danishes and coffee in cups.
And the free lunches were outstanding.
But now there's no longer any such thing as a free lunch.
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