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Business

Some People Gave Jeffrey Katzenberg $591 Million to Start A ‘New Media’ Company

As Dreamworks Animation’s new owners continue to lay off hundreds of the company’s employees, its founder and former CEO, Jeffrey Katzenberg, is launching a ‘new media’ company.

Katzenberg has already raised $591.5 million from investors, according to a regulatory filing that was made public yesterday. The news was reported by Bloomberg. The idea behind the new venture is patterned after Barry Diller’s IAC/InterActiveCorp, a holding company that owns web sites like Vimeo and College Humor, as well as most of the major dating platforms, including Match, OKCupid, and Tinder.

The 66-year-old Katzenberg is calling his venture WndrCo LLC. The absence of vowels in the name tell you that Katzenberg is serious about this whole tech thing. But is it pronounced WInder or WAnder. Makes you WUnder.

Katzenberg personally made $391 million from last year’s sale of Dreamworks Animation to Comcast-NBCUniveral. He has an estimated net worth of $900 million to $1 billion.

(Photo: drserg/Shutterstock.com)

  • theBlipp

    #WnkrCo?

  • Marti386

    The insanity continues.

  • So without him finding control over another studio, he’s going on another venture to lead. Hopefully it will be more successful and consistent this time around. At the same time, will he add live action to his ‘media’ focus? Or be strictly animation this time around?

  • Capital_7

    He should call it LCD Entertainment.

  • BONESAW IS READY
  • Elsi Pote

    To keep the comments light and neutral, I’ll say Katzenberg still falls short from being a billionaire because of this small detail:

    https://youtu.be/IJIAOosI6js

  • C

    New media is very vague. Some kind of streaming platform? A VR startup? He seems like a better boss than the Comcast guys so if he puts his money to work hiring good artists that would be nice. Or he could just retire to an island somewhere and give most of it away to charity.