LOS ANGELES, Oct. 12 (UPI) -- Paul Allen has ended months of Wall Street speculation by selling millions of shares in DreamWorks Animation.
Allen said he wants the second-offering sale carried out as soon as "practicable" after the Nov. 3 release of "Flushed Away," Daily Variety said.
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While Allen has a $570 million ownership stake in DreamWorks Animation, he can't claim it in stock until he sells a portion of it in the secondary offering.
Even after the sale, the Microsoft co-founder will remain the company's biggest shareholder.