DreamWorks Animation SKG Inc. Chief Executive Jeffrey Katzenberg is expected to leave if Comcast Corp. acquires the family-entertainment studio, according to people familiar with the matter.

Mr. Katzenberg has been CEO of DreamWorks US:DWA since it spun off as its own company in 2004. The Wall Street Journal reported Tuesday evening that Comcast Corp. CMCSA, -0.70% was in talks to buy DreamWorks for more than $3 billion, though the deal isn’t final and negotiations could fall apart.