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DreamWorks investor cashes in

May 10, 2008|From Times Wire Services

Paul Allen, the billionaire co-founder of Microsoft Corp., sold $35.3 million in shares of DreamWorks Animation SKG Inc., dropping to its sixth-largest shareholder.

Allen sold 1.17 million shares this week for $30.22 to $30.44 each, according to a regulatory filing. He still owns 3.07 million shares of the Glendale-based company.

DreamWorks Animation is trading at its highest level since November after it reported first-quarter profit and revenue last month that beat analysts' estimates.

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