Softbank in talks to acquire Dreamworks Animation

Japan's Softbank is in talks to acquire Dreamworks Animation, The Hollywood Reporter reported late Saturday. The Wall Street Journal later reported the same news, citing "people familiar with the matter."

Softbank is best known as Japan's telecoms giant. In 2013, it bought Sprint in the US and earlier this year it was considering buying T-Mobile USA, but has since backed out of that acquisition.

Following Softbank's $32-per-share offer, Dreamworks Animation's board of directors held an emergency meeting on Thursday, according to The Hollywood Reporter. Nikesh Arora, a former Google executive and now head of the newly formed Softbank Internet and Media, met with Dreamworks about the offer.