Posted February 10, 200916 yr DreamWorks Partners with Disney Disney has come to DreamWorks' rescue after Universal pulled out a seven-year distribution deal it previously entered into with DreamWorks last year. Universal backed out after DreamWorks demanded that the studio's $150 million contingency loan be turned into a $250 million financing deal with delayed repayment. Universal issued a statement, which read as follows: "Over the past several weeks, DreamWorks has demanded material changes to previously agreed-upon terms. It is clear that DreamWorks' needs and Universal's business interests are no longer in alignment. We wish them luck in their pursuit of funding and distribution of their future endeavors." In the wake of the deal falling through, DreamWorks head honcho Steven Spielberg and partner Stacey Snider have secured an exclusive "long term distribution" arrangement with Disney. DreamWorks split with Paramount in October and immediately linked up with Universal. DreamWorks was promised a $550 million investment from India's Reliance Big Entertainment if they can raise more subsequent funding. Under the terms of the Disney deal, Disney will market and distribute approximately six DreamWorks titles per year. The first DreamWorks/Disney title will be released via Touchstone Pictures and will hit theaters in 2010. Disney released a statement praising Spielberg's "artistic vision" while Spielberg called the Mouse House "the birthplace of imagination." SOURCE!
February 13, 200916 yr So long as they leave Dreamworks alone to make their films their way, then it's not such a bad thing.... But it is somewhat an indication of how the recession is affecting the big studios and film-making in general..... The Indian studio coming into the equation is also interesting..... More evidence that India is becoming a pretty big player....
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