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    DreamWorks cutting jobs, movie plans

    By SHOOTUpdated:No Comments1030 Views
    DreamWorks Animation CEO Jeffrey Katzenberg (AP file photo)

    By Sarah Skidmore Sell, Business Writer

    GLENDALE, Calif. (AP) --

    DreamWorks Animation said Thursday it is reducing the number of films it produces each year from three to two and cutting 500 jobs as it tries to improve its profitability.

    The company, known for animated movies such as "Shrek" and "Kung Fu Panda," said it is narrowing its focus to one original film and one sequel each year.

    DreamWorks Animation CEO Jeffrey Katzenberg said that the company's film plans had grown too ambitious and led to inconsistent performance.

    The company has struggled with a weaker-than-expected performance from some films, such as "Mr. Peabody & Sherman," which contributed to a loss in its most recent quarter.

    DreamWorks Animation SKG Inc. will take a $290 million pre-tax charge in connection with the restructuring. It expects the moves will save $30 million in 2015, growing to roughly $60 million by 2017.

    The job cuts represent 18 percent of its workforce. They are expected to be complete by the end of the year.

    DreamWorks also announced a number of management departures, including Vice Chairman Lewis Coleman, Chief Operating Officer Mark Zoradi and Dawn Taubin, who is primarily responsible for the company's marketing activities.

    Movies remaining on its slate include "Home," which is set for release in March, followed by 2016 releases of "Kung Fu Panda 3," and "Trolls." In 2017, it plans to release "Boss Baby" and "The Croods 2," followed in 2018 by "Larrikins," and "How to Train Your Dragon 3." The company said that "Captain Underpants" will be produced outside of its pipeline at a significantly lower cost.

    Shares of the Glendale, California, company rose 3 percent to $22 in extended trading following the announcement.

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    Tags:DreamWorks



    Actor Anthony Head, known for “Buffy the Vampire Slayer” and “Ted Lasso,” dies at 72

    Friday, June 5, 2026
    Anthony Head arrives for the European premiere of 'The Iron Lady' on Wednesday, Jan. 4, 2012, in London. (AP Photo/Jonathan Short, File)

    Anthony Head, the suave, smooth-voiced British actor known for roles in "Buffy the Vampire Slayer" and "Ted Lasso," has died, his family said Friday. He was 72.

    Head's daughters, actors Emily and Daisy Head, told the Press Association news agency that the actor passed away due to complications from pneumonia.

    The stage and TV performer became well known to British audiences in the 1980s as one half of a will-they, won't-they romantic couple in a series of ads for Nescafe Gold Blend instant coffee. The ads were later re-shot for a U.S. audience for Taster's Choice.

    Head achieved wider fame as librarian Rupert Giles, mentor to the title character in the cult-favorite supernatural series "Buffy the Vampire Slayer," which ran from 1997 to 2003.

    He most recently played Rupert Mannion, the villainous ex-husband of Hannah Waddingham's character Rebecca, in "Ted Lasso."

    "Our grief is far greater than the hole he has left behind, but we know his legacy will live on, in the shows he was a part of, and in the audiences that love them," his daughters said. "How lucky we are to know we are able to watch him doing what he loved, even when he is no longer with us."

    Head was born in London on Feb. 20, 1954 to Seafield Head, a documentary filmmaker, and Helen Shingler, an actor. His older brother, Murray, is also an actor.

    Other notable roles included playing Geoffrey Howe, the deputy to Prime Minister Margaret Thatcher, played by Meryl Streep, in the Oscar-winning "The Iron Lady."

    Head portrayed a prime minister himself in the sketch comedy show "Little Britain," as well as King Uther Pendragon, the father of Prince Arthur, in the "Merlin" TV series. He also appeared in "Motherland," Manchild," and "Silent Witness," along... Read More

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