Three Moguls Aboard

After the Shrek wreck, who can right the DreamWorks ship?

No one doubted the artistic talent at DreamWorks SKG when it was launched in 1994 amid hype befitting its superstar founders, Steven Spielberg, Jeffrey Katzenberg and David Geffen. Overlooked in the face of such Tinseltown royalty, though, was that none were proven CEOs--a niggling detail that has become hard to miss after a series of gaffes since the trio sold shares of its animation division to the public last year.

First the newly public DreamWorks Animation appears to have mishandled first-quarter earnings information. In May its shares fell 5% just before the company disclosed disappointing results. The Securities and Exchange Commission is...

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