DreamWorks, Paramount settle split
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!?Paramount and DreamWorks have hammered out a joint arrangement for up to 40 development projects.
As part of the separation agreement, DreamWorks will take the lead on 15-20 projects, with Paramount retaining an option to co-finance and co-distribute the films.
Deal was worked on throughout the weekend by Viacom general counsel Michael Fricklas and Par vice chairman Rob Moore (for Paramount) and David Geffen and attorney Skip Brittenham (on behalf of DreamWorks). Geffen will not be joining the new DreamWorks.
Though the two companies declined to list the projects affected because filmmakers are still being contacted, insiders say two Steven Spielberg directing vehicles — “The 39 Clues” and “The Trial of the Chicago 7” — as well as the Sacha Baron Cohen comedy “Dinner With Schmucks” are among the titles.
Similarly, Paramount will take the lead on another 15-20 projects, with DreamWorks holding an option to co-finance. Paramount will keep in its fold the remainder of the 200 DreamWorks-developed projects, and DreamWorks will no longer be involved creatively or financially.
- from Variety