DreamWorks delays its loan pitch
Hollywood Newsroom is now Buzz Newsroom! Visit and bookmark our new site. Buzz is bigger and better, including sports, world news, gadgets and the entertainment news that you're used to. Same staff, just more stuff! Why Fark, Drudge and Huffington when you can Buzz!?Representatives of the new DreamWorks film studio will delay pitching Wall Street on a bank loan package for about one month to give the banking market time to stabilize.
The good news is that DW principals Steven Spielberg and Stacey Snider are confident that their new partners at Reliance Big Entertainment can provide all the capital necessary to get the new company up and running until the bank financing is secured. RBE has agreed to provide DW at least $550 million in exchange for a 50% equity stake in the newly liberated production company, recently separated from Paramount with several development projects in tow.
- from THR