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Actress Lucy Liu and Dreamworks Animation CEO Jeffrey Katzenberg attend the premiere of DreamWorks Animation and Twentieth Century Fox's 'Kung Fu Panda 3' at TCL Chinese Theatre on January 16, 2016 in Hollywood, California.
DreamWorks is the animated film house behind blockbuster movies like "Kung-Fu Panda" and "Shrek," and headed by CEO Jeffrey Katzenberg.
It's not clear whether Katzenberg will stay with the company should the deal go through.
The Journal notes that DreamWorks Animation's market value currently sits at at $2.3 billion, making the projected $3 billion deal a potential boon for DreamWorks.
The film studio, Universal Pictures, also sits under Comcast's umbrella. Universal operates its own animated film branch in Illumination Entertainment.