DreamWorks Animation SKG Inc., maker of the “Madagascar” movies, will generate $100 million in TV production revenue this year, Chief Executive Officer Jeffrey Katzenberg said, lessening the company’s dependence on films.
China Mengniu Dairy Co., the country’s largest dairy producer, offered HK$12.5 billion ($1.6 billion) to buy a local infant formula maker as baby food demand surges and the government pushes for safer products.
Netflix Inc., the biggest online subscription-video service, rose the most in almost two months after agreeing to buy shows from DreamWorks Animation SKG Inc., furthering a push into original children’s programming.
Richard Branson’s Virgin Group Ltd., the travel and entertainment conglomerate, wants to enter the U.S. rental-car business by buying the assets of the Advantage brand that Hertz Global Holdings Inc. was ordered to divest.
General Electric Co. Chief Executive Officer Jeffrey Immelt tried to sell off the company’s appliance and lighting businesses in 2008, only to have the effort derailed by the financial crisis. Now Chip Blankenship has the job of proving the division was worth keeping.
United Parcel Service Inc. and FedEx Corp. are testing strategies for a same-day delivery market fueled by Web retailers trying to match the instant gratification their brick-and-mortar competitors offer shoppers.