DreamWorks announced today it will launch a new studio focused on digital entertainment, as part of a broader $4 billion deal to acquire Pixar and Lucasfilm.
The studio will focus on digital content for consumers through its digital-first strategy and will work with other studios, including Paramount Pictures, Disney Digital Networks and Warner Bros., to bring to market content and services that complement its existing business, according to a press release.
The new studio will be headed by CEO Rob Roy, who will become chairman of the board of Disney’s DreamWorks, a joint venture between Walt Disney Co. and LucasFilm Inc.
The acquisition, which will be made public later today, also marks the first significant step in a broader transformation of DreamWorks’ business.
That is in line with the company’s strategy to become more of a “transformational” company, Roy said in the release.
The deal also reflects Disney’s focus on the film business, with the acquisition of Pixar and other studios helping to expand the company in that arena.
DreamWorks Animation, which has long been focused on the theatrical film business and has been the company most closely associated with Walt Disney, has long sought to expand its portfolio to include content across all mediums.
As part of the deal, Disney is acquiring Pixar Animation Studios, which also includes Lucasfilm, for $4.2 billion.
Roy is the CEO of Pixar Animation, and he was in attendance for the announcement, according the company.
Roy has been a vocal critic of President Donald Trump, who he says has been an ineffective leader and has led a “very dangerous” trade war.
The president has also been vocal about the need for more diversity and inclusion in the film industry, and Roy is part of that.
But the deal also gives Disney a strong platform for future growth.
Disney CEO Bob Iger recently said the company plans to focus on more than just films.
“Our long-term goal is to build a world-class film studio that will make the most of our extraordinary talent, and we are committed to doing so,” Iger said in a statement.
“We’re excited to join forces with DreamWorks to continue to invest in the future of the film studio, the industry and all creators who create content for our audiences.”