After months of speculation, it looks like Spielberg's brainchild DreamWorks is near splitting off from Viacom's Paramount Pictures. In a report from the Wall Street Journal, the latest news indicates that Steven and company may be close to a deal with Reliance ADA Group, India's biggest entertainment conglomerate. The move would provide Mr. Spielberg and company with $500 million to $600 million in equity, enough cash to split off with Paramount later this year.
The new company would be led by DreamWorks CEO Stacey Snider and with Reliance having a large stake in it, they could produce about six movies a year.
As to future outlook of the current merger between Paramount & DreamWorks, here's the movies they're co-producing at the moment. (Release Dates included)
2008 Releases:
August 15, 2008 Tropic Thunder
September 19, 2008 Ghost Town
September 26, 2008 Eagle Eye
November 7, 2008 Madagascar 2: Escape 2 Africa
2009 Releases:
January 16, 2009 I Love You Man
January 23, 2009 Hotel for Dogs
March 13, 2009 The Lovely Bones
March 27, 2009 Monsters and Aliens
June 26, 2009 Transformers 2: Revenge of the Fallen
When I was out in LA, Speilberg had his offices at Universal Studios, which seemed weird. They should just partner up, it makes sense. Dreamworks has had some hits, but has also had some major flops, but I guess that happens with all studios.
After reading some of the details it was obvious that this was going to happen. Spielberg in specific has a win/win situation here by leaving and plus he gets his co. back in charge and ownership of their own films. Still always hate to see an American co. being bought or co-owned by a foreign one.
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