Dreamworks boss renews, company expands TV slate

Jeffrey Katzenberg, CEO of DreamWorks Animation, has extended his contract for four more years as the company announced record results and plans to ramp up its TV output.

The film and TV producer, which produces movies including Shrek and Kung Fu Panda, recorded profits of US$62.3 million over the latest quarter, an increase from US$26.1 million from last year. Revenues also increased 68% to US$263.5 million.

The company is rapidly expanding its television slate with its latest TV series Penguins of Madagascar scoring huge ratings on its debut on Nickelodeon in the US.

It also announced plans to launch a number of spin-offs from its latest movie Monsters vs Aliens. It will launch a TV special Monsters vs Aliens: Mutant Pumpkins from Outer Space on US network NBC and is currently developing an animated kids series based on the film.