Tuesday, September 2, 2008

Spielberg Nears A Deal With Reliance

This is kinda huge.
Spielberg appears close to signing a lucrative package that would make India's Reliance Communications a 50% owner of his DreamWorks studio.

Here's the part that got me from the article.
What happens with DreamWorks Animation?

A Tale of Two DreamWorks

Spielberg still considers Universal his second home, say those close to him. The Twentieth-Century Fox studio (NWS) is considered a long shot to house DreamWorks. Whoever wins the contest to house the producer will likely strike an agreement with him to distribute the new DreamWorks' films in theaters, on DVD, and on the Internet. Spielberg's company maintains a long-standing relationship with HBO, which would continue to distribute DreamWorks films on its premium TV channel.
The new DreamWorks will be a private company separate from the publicly traded DreamWorks Animation (DWA), which was separated from the live-action unit in 2004. The newly created company being funded by Reliance would likely be nearly 50% owned by Spielberg, with his top production executive, DreamWorks CEO and Co-Chairman Stacey Snider, owning a small equity piece as well. Snider, a former Universal Pictures chairman, is considered key to the transaction and was also allowed to leave her Paramount contract as part of a "key man" provision that permitted Spielberg to take top executives with him when he left.

read more | digg story

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