Dreamworks Animation To Launch Its Own Cable Network
The Disney Channel, Nickelodeon, and the Cartoon Network may soon have a new rival -- a channel run by DreamWorks Animation. In a conference call on Thursday, DreamWorks Animation chief Jeffrey Katzenberg said that the company is in active discussions about launching its own cable network. In the meantime, DWA is busy selling TV shows to Cartoon Network and Nickelodeon and foreign outlets like the BBC. The studio, he noted, launched a new show, DreamWorks Dragons: Riders of Berk on Cartoon Network on Sept. 4. Katzenberg's comments came during a conference call with investors and reporters after the company reported a 24-percent jump in net income to $24.4 million during its third quarter. That compared with a profit of $19.7 million during the same quarter a year ago. The results exceeded analysts' estimates.