In a move to gain more control of Dreamworks (NYSE:DWA) again, Steven Spielberg has the goal of raising $1 billion so he can get back ownership of the movies the company makes.
Under the current circumstance, Spielberg has lost a lot of control over most things he's connected to professionally, as even the Dreamworks name is not under his control, but under the control of Jeffrey Katzenberg's DreamWorks Animation.
Even though Spielberg wants to end his existing deal with Paramount (NYSE:VIA-B) for distribution and make a deal with Universal, he has put out feelers at the instruction of his financial advisors to initiate a bidding war for the right to distribute Dreamworks' films.
Along with Paramount and Universal, Disney (NYSE:DIS) and Fox (NYSE:NWS-A) have also shown an interest in being a distribution partner with Dreamworks and Spielberg.
Hollywood Reporter says that as of May 1, Spielberg has a window in his contract which releases him to talk to other studios about making a deal. Since that time Spielberg and his team have been meeting with rival studios and financiers for that purpose.
The basic deal Spielberg has at Paramount now is to produce and direct film projects owned by others. The contract between Paramount and Dreamworks Animation extends through 2012.
Yes to him hence there was it for a long time to make and it not should to tighten all till 2012.
Posted by: Bernard Lavilliers | June 11, 2008 1:24 PM | Permalink to Comment