Dreamworks Animation

DOWNTOWN GLENDALE ? When the city's director of libraries first heard that DreamWorks Animation SKG's annual employee summer carnival was going to benefit the Glendale Central Library's children's room, she expected a $100 donation. "That buys maybe six or seven books, which is great," Nancy Hunt-Coffey said. But instead, the library is getting 100 times that. Glendale-based DreamWorks Animation is expected to present a $10,000 check to the library officials at tonight's City Council meeting.

Sale to Paramount announced. Effect on more than 1,000 local employees not yet known. GLENDALE -- Paramount Pictures' announced Sunday that it will purchase DreamWorks SKG for $1.6-billion, but officials could not say how that might affect the more than 1,000 employees working in Glendale. "It's too early too tell," DreamWorks spokesman Bob Feldman said. Steven Spielberg, David Geffen and Jeffrey Katzenberg, founded DreamWorks SKG, its animation arm and distribution company -- DreamWorks Studios -- 11 years ago. The three will maintain ownership and creative control of DreamWorks Animation, and secured a seven-year distribution agreement with Paramount for the rights to distribute animation films in theatrical, home entertainment and television markets worldwide.

Robert Chacon Slumping retail sales of its "Shrek 2" DVD has caused DreamWorks Animation SKG to cut its profit forecast and hold back on a major stock sale, the company announced Monday. DreamWorks Animation also announced that the Securities and Exchange Commission launched a probe into the trading of its shares in May. Company executives predicted in April that DreamWorks Animation would break even in the second quarter, but now they expect a loss of 7 cents to 9 cents a share.

Gerald D. Barrone The Glendale Partners is a group of leading business and professional people in Glendale. Its mission is to make Glendale the premier city of Southern California in terms of business environment and quality of life. The city of Glendale designated the San Fernando Road Corridor as a Redevelopment Area to inspire responsible development, increased investment and an economic and aesthetic transformation of this important city area.