DreamWorks sets up ‘Old Boy’ club

In a potential high-profile star-writer reunion, “I Am Legend” co-scribe Mark Protosevich is in early talks to pen the remake of “Old Boy” that boxoffice king and “Legend” star Will Smith is developing with director Steven Spielberg. DreamWorks secured the remake rights from Mandate Pictures, which also is staying involved in the project. Although the studio was meeting with several high-profile writers to do the adaptation, Smith invited Protosevich to meet with Spielberg on the project. – from THR

Audiences wild about ‘Madagascar’

There was no escaping the strength of DreamWorks Animation and Paramount’s “Madagascar: Escape 2 Africa” as it bowed domestically to an estimated $63.5 million from 4,056 theaters. Family pic narrowly scored the best opening of the year for an animated title, besting the $63 million for Disney-Pixar’s “Wall-E,” according to the preliminary results.

“Escape 2 Africa” — which also the saw the seventh best opening of all time for a toon — marked a rollicking start for the holiday box office. But the biggest surprise of the weekend was Universal’s Seann William Scott-Paul Rudd laffer “Role Models,” which grossed an estimated $19.3 million from 2,792 runs, according to Rentrak.

Most, including U, thought the raunchy R-rated comedy would gross $10 million-$12 million, given that the Weinstein Co.’s R-rated “Zack and Miri Make a Porno” debuted to $10 million the week before.

- from Variety

DreamWorks Animation’s family comedy “Madagascar: Escape 2 Africa” enjoyed a surfin’ safari to the top of the domestic boxoffice this weekend. The Paramount-distributed animated sequel cruised to an estimated $63.5 million opening that significantly outdistanced prerelease projections. Its three-day haul outpaced even the four-day bow by the original “Madagascar,” which unspooled over the 2005 Memorial Day frame with $61 million.

Universal’s R-rated comedy “Role Models” finished second with a $19.3 million debut that also comfortably outpaced forecasts. Dimension Films’ R-rated comedy “Soul Men” — distributed by MGM and starring Samuel L. Jackson and the late Bernie Mac — bowed in sixth place with $5.6 million.

Disney’s leggy “High School Musical 3: Senior Year” took third place with $9.3 million and a 17-day cume of $75.7 million, while Universal’s Clint Eastwood-helmed “Changeling” was fourth in its second weekend of wide release with $7.3 million and a $20.6 million cume.

The Weinstein Co.’s R-rated comedy “Zack and Miri Make a Porno” was fifth, as its modest 35% sophomore-session dip produced $6.5 million on the frame and a $20.9 million cume. Freestyle’ s PG-13 horror entry “The Haunting of Molly Hartley” fell 36% from its opening grosses to $3.5 million in eighth place with a $10.2 million cume.

- from THR

Geffen departs from DreamWorks

David Geffen’s departure from DreamWorks is complete.

DreamWorks Animation announced on Tuesday that the company co-founder is ankling the toon studio’s board. Move comes soon after he declined to join the newly formed DreamWorks Studios following its departure from Paramount.

Mogul remains a major shareholder in DreamWorks Animation, with approximately 22% of the company’s voting power. It’s not clear how much of that he’ll maintain now that he has left the board. However, company rules require that Geffen’s take, combined with that of CEO Jeffrey Katzenberg, who has 47% of the voting stock, retain majority control.

“As one of DreamWorks’ original founders, his vision and commitment have been vital throughout our 14-year history,” Katzenberg said on a conference call with analysts. “I look forward to working with David as a trusted adviser going forward.”

- from Variety

More Than Meets the Eye – ‘Transformers’ to be Developed as Theme Park Mega-Attraction at Universal Studios Hollywood

“Transformers,” the electrifying blockbuster celebrated for its multi-generational appeal, inventive storyline, spectacular action sequences and special effects, will now be developed as a new theme park mega-attraction in a partnership between Universal Parks & Resorts, Hasbro, Inc. and DreamWorks Pictures.

The attraction will fuse 3D-HD media, mega special effects and stunning robotics with a ride system that will transform perceptions of theme park experiences. The rides are scheduled to make their debuts in early 2011, first at Universal Studios Singapore and then at Universal Studios Hollywood. In “Transformers,” Earth’s humans are caught in the middle of an intergalactic war between the friendly Autobots and the evil Decepticons, which are able to change into a variety of objects, including cars, trucks, planes and other technological creations.

Transfomers Ride Concept Art

Tom Williams, Chairman and CEO, Universal Parks & Resorts, said: “‘Transformers’ will be a jewel in our collection of world-class rides based on great movies. We’re thrilled to be collaborating with Hasbro, DreamWorks, director Michael Bay and the film’s executive producer, Steven Spielberg, who has been responsible for so many of our signature rides and attractions.” Steven Spielberg serves as creative consultant to Universal Parks & Resorts and has worked closely with the company in the creation of some of the world’s most innovative theme park attractions. Those attractions include Jurassic Park-the Ride, a featured attraction at UP&R parks in Orlando, Hollywood and Japan, the E.T. Adventure at Universal Orlando and Universal Studios Japan, and the “War of the Worlds” sets at Universal Studios Hollywood.

Larry Kurzweil, President and Chief Operating Officer, Universal Studios Hollywood, said “‘Transformers’ represents a perfect match for our theme park: an exhilarating blockbuster with a great story, clever humor, non-stop action and flawless special effects. It has all the elements necessary to become one of the world’s most exciting theme park rides and a centerpiece attraction at Universal Studios Hollywood, The Entertainment Capital of L.A.”

Transfomers Ride Concept Art 2 - Click to Make Bigger

“We are thrilled to be working with Universal Parks & Resorts and DreamWorks to create this ‘Transformers’ attraction because we believe it will deliver an ultimate one of a kind immersive ‘Transformers’ experience for our fans around the world!” said Brian Goldner, President and CEO of Hasbro, Inc.

Tan Hee Teck, Chief Executive Officer of Resorts World at Sentosa, the mega resort that is home to Universal Studios Singapore, said: “It is great that Asia will be the launch pad for the first Transformers attraction. Transformers was introduced in the United States in 1983 but traces its roots to Asia. Optimus Prime, Bumblebee and Megatron are familiar names to Asian audiences, who grew up with the robot toys and love the movie. When Transformers opens in Universal Studios Singapore in 2010, it will be the first of its kind in the world. We may see a surge of Transformers mania.

Director Michael Bay and Executive Producer Steve Spielberg presented “Transformers” in 2007. “Transformers” broke box office records on its way to gathering worldwide gross revenues of over $706 million — the highest non-sequel gross of any movie in 2007 — and three Academy Award nominations. The sequel, “Transformers: Revenge of the Fallen,” is scheduled to be released by Paramount Pictures in the U.S. on June 26, 2009.

Hopefully there will be a Megan Fox Ride

“Transformers” is a Paramount release of a DreamWorks Pictures, Paramount Pictures presentation, in association with Hasbro, of a di Bonaventura Pictures production. Produced by Lorenzo di Bonaventura, Tom DeSanto, Don Murphy, Ian Bryce. Executive producers, Steven Spielberg, Michael Bay, Brian Goldner, Mark Vahradian. Co-producers, Allegra Clegg, Ken Bates. Directed by Michael Bay. Screenplay, Alex Kurtzman, Roberto Orci. Story, Alex Kurtzman, Roberto Orci, John Rogers. Starring Shia LaBeouf, Tyrese Gibson, Josh Dumael, Anthony Anderson, Megan Fox, Rachael Taylor, John Turturro and John Voight.

DreamWorks and Universal signs seven-year deal

DreamWorks has nailed down its seven-year distribution pact with Universal — as expected — but there are several aspects of the deal that stand out.
In the end, there was no bidding war for DreamWorks pics. Universal will commit $150 million to the new venture and will collect an 8% distribution fee. Par will still be distributing many films before and after the new U deal takes effect.

Disney supposedly had engaged in casual talks with DreamWorks principals Steven Spielberg and Stacey Snider, but the Universal deal had been expected given U’s longstanding ties with the pair.

The 8% distrib fee for releasing DreamWorks’ slate of films is similar to what Paramount Pictures collects for releasing DreamWorks Animation pics, which remain at Par through 2012.

Snider and Spielberg recently exited Paramount to partner with Reliance Big Entertainment, which will distribute the new DreamWorks projects in India. It’s assumed the duo will retain the DreamWorks moniker, though the 12-member DreamWorks Animation board will have to approve that.

Reliance invested $550 million in the company, with DreamWorks hoping to add an additional $700 million to its coffers via JPMorgan by the end of the year.

In announcing the arrangement, DreamWorks and Universal said the deal will take effect in 2009 and will include six or so films per year.

However, the first DreamWorks-produced, U-released project will not likely hit the bigscreen until 2010 given that Paramount is aboard to distribute a number of DreamWorks pics through the end of 2009. In addition, as part of Paramount and DreamWorks’ divorce settlement, Par has an option to co-finance and co-distribute 15-20 DreamWorks-led films that had been developed during DreamWorks’ three-year stint with Par.

- from Variety

Steven Spielberg is back in the Universal family.

DreamWorks, headed by Spielberg and Stacey Snider, has struck a much-anticipated deal for theatrical distribution with Universal Studios in a seven-year agreement encompassing as many as six releases a year. The first project under the pact should go before cameras by September for release in 2010.

Terms call for DreamWorks to pay Universal an 8% distribution fee, with Uni advancing the marketing costs of the films.

Spielberg and Snider recently bolted Paramount to reconstitute DreamWorks as a private, separate production company. Several projects under development at Paramount will exit with them, but several DW/Par co-productions are likely during the next couple of years from among a batch of 33 key projects that DreamWorks had in development at Paramount.

- from THR

DreamWorks delays its loan pitch

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

DreamWorks, Paramount settle split

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

Nikki: Paramount And Dreamworks Finalize Separation And Future Joint Projects; David Geffen Ends DW Relationship

I’m told the decision as to the new distributor for DreamWorks 2.0 will be made at the beginning of the week by Steven Spielberg. (Of course, odds are it’s going to be Universal.) Below is an advance look at the press release to be issued about the formal separation of Paramount and DreamWorks which was started by Steven Spielberg, David Geffen and Jeffrey Katzenberg. This ends David Geffen’s 14 years as a DreamWorks partner and his retirement from the film business now that the DreamWorks principals’ resignations were finalized with this agreement. Wow, end of an era! The deal now means that Geffen has engineered his most fervent wish: to give director Steven Spielberg and his studio chief Stacey Snider a big enough warchest of $1.5B worth of indie financing (half from India’s Reliance ADA) so they could leave their rocky relationship with Paramount behind and answer only to themselves. As for Katzenberg, he is chief of the publicly traded DreamWorks Animation, and its distribution agreement with Paramount continues. He, too, will not be associated with the new Spielberg- and Snider-run DreamWorks.

- from Nikki

Hollywood, CA (October 5, 2008) — Paramount Pictures and DreamWorks principals today announced the formalization of their transition agreements as Mr. Spielberg and Ms. Snider depart to form their previously announced new motion pictures company in partnership with Reliance BIG Entertainment. Mr. Geffen, who oversaw the transition for DreamWorks, will not be joining the new company.

As part of the separation agreement, the DreamWorks principals’ new company will take the lead on a number of development projects, which Paramount will have the option to co-finance and co-distribute. The majority of existing DreamWorks staff is expected to be offered positions at the new company. All other projects currently in development will remain at Paramount with the opportunity for the Reliance-backed venture to co-finance several projects to which Mr. Spielberg is attached. In addition, Mr. Spielberg will continue to produce the Transformers franchise for Paramount and will also collaborate on three other Paramount films including, “When Worlds Collide.”

Brad Grey, Chairman and CEO of Paramount Pictures said, “We have had a great run with the DreamWorks team both creatively and financially. In particular, it has been a true honor working closely with a storyteller of Steven’s talent and stature. We are also grateful to David and Stacey for their exceptional leadership, creative talent and many contributions to our partnership over the past few years. We look forward to building on our joint successes as Paramount plans for the future.”

Mr. Spielberg added, “Brad is a friend and I am pleased to be able to continue to work with him and his team with whom we have shared many past successes. We have enjoyed a productive creative and business collaboration with Brad, Paramount and Viacom over the past few years and are enthusiastic about extending the relationship for many years to come. And I have a very special thanks to David Geffen for his far reaching vision that has made it possible for me to steer this new course. His advice and wisdom have always been right on the money. He is a friend for life.”

“We are grateful to Brad, Rob and the entire Paramount team for their generous support and constant creativity. We are very proud of the films we produced and marketed together. We’re excited about this new venture which wouldn’t have been possible without the business genius and loyalty of David Geffen,” said Stacey Snider, Co-chairman and CEO of DreamWorks Studios.

Rob Moore, Vice Chairman Paramount Pictures added, “It has been rewarding to work with the DreamWorks team and I’m gratified we’ll have the opportunity to continue to work together. We wish them the best as they launch their new venture.”

About DreamWorks Studios
DreamWorks Studios was formed in 1994 by Steven Spielberg, Jeffrey Katzenberg, and David Geffen. The company won three consecutive Best Picture Academy Awards with “American Beauty,” “Gladiator,” and “A Beautiful Mind” (both co-produced with Universal). Among the company’s other successes have been such films as “Saving Private Ryan” (co-produced with Paramount), “The Ring,” “Minority Report” (co-produced with 20th Century Fox), “War of the Worlds,” “Dreamgirls,” and “Transformers” (all co-produced with Paramount). Stacey Snider joined the company in 2006 as Co-Chairman and CEO. Snider has overseen the company’s business strategy as well as the creative and financial aspects of all film development and production. Among its upcoming productions are “The Soloist,” “Revolutionary Road,” “The Lovely Bones,” and “Transformers: Revenge of the Fallen.”

About Paramount Pictures Corporation
Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom (NYSE: VIA, VIA.B), a leading content company with prominent and respected film, television and digital entertainment brands. The company’s labels include Paramount Pictures, Paramount Vantage, Paramount Classics, MTV Films, Nickelodeon Movies and DreamWorks Studios. PPC operations also include Paramount Digital Entertainment, Paramount Famous Productions, Paramount Home Entertainment, Paramount Pictures International, Paramount Licensing Inc., Paramount Studio Group, and Worldwide Television Distribution.

About Reliance BIG Entertainment
Reliance BIG Entertainment and its affiliates represent the largest integrated media and entertainment eco-system in India.

Key initiatives include: Movies (Hollywood and Indian), Animation, Music, Home Video/DVD, Multiplexes across, India, the US, and Asia, Broadcasting, Sports, Gaming, Internet and mobile portals, with direct opportunities in delivery across all emerging digital distribution platforms: digital cinema, IPTV, DTH and Mobile TV.

Reliance BIG Pictures, a division of Reliance BIG Entertainment, is the most prolific producer of Indian films in all major languages, with a slate of nearly 100 films to be completed in the next 3 years.

In May 2008, Reliance BIG Pictures announced separate development deals with Nicolas Cage’s Saturn Productions, Jim Carrey’s JC 23 Entertainment, George Clooney’s Smokehouse Productions, Chris Columbus’ 1492 Pictures, Tom Hanks’ Playtone Productions, Brad Pitt’s Plan B Entertainment, and Jay Roach’s Everyman Pictures. More development deals are planned.

Universal pencils loan into DreamWorks bid

Universal is the prohibitive favorite to win distribution rights on films produced by the new DreamWorks, with ongoing talks focused on a related $150 million loan from NBC Universal to the soon-to-launch company.

The loan could be drawn upon only if other bank funds were exhausted, and its recoupment would be subordinate to DreamWorks’ senior bank debt. NBC Uni has offered the backup funding as part of a DW financing package worth as much as $1.3 billion.

Reliance Big Entertainment recently agreed to provide $550 million for a 50% stake in the company. JPMorgan Securities is overseeing the remaining debt portion of the package.

The investment bank itself will put up at least $100 million, so with the NBC Uni contribution that would leave about $500 million for JPMorgan to raise through a syndication of other banks. It’s also possible that JPMorgan or RBE will find another bank to put up an additional big chunk on its own, making it possible to keep the syndication to a more manageable $400 million or so.

“All of this stuff is going to probably take until the end of December to close,” a participant in some of the talks said.

Disney remains a distant second in the contest for DW distribution rights. But should it prevail, the Burbank studio would be expected to provide a loan similar to what NBC Uni has offered.

- from THR

‘Eagle Eye’ flies high at box office

DreamWorks/Paramount’s thriller “Eagle Eye” thrilled with a debut of $29.2 million from 3,510 theaters, reviving the fall box office and scoring the best opening since the heat of summer and the fourth best bow ever for September.
The casualty of the weekend was Spike Lee’s WWII film “Miracle at St. Anna,” which opened to a disappointing $3.5 million from 1,185 to come in at No. 9, according to Rentrak.

Overall, the frame was up 6% in grosses over the same weekend a year ago. The box office was generally robust despite Friday night’s presidential debate, which did take attention away from films favored by adults, evidenced by big Friday-Saturday gains.

Movies appealing primarily to adults saw even bigger Friday-to-Saturday gains, leaving no doubt that the McCain-Obama showdown kept people in front of the televisions. Focus Features’ “Burn After Reading” was up a staggering 87% Friday-over-Saturday.

“Eagle Eye” easily topped the B.O., while Warner Bros. and Village Roadshow Pictures’ Diane Lane-Richard Gere romantic drama “Nights in Rodanthe” placed No. 2 in its bow, grossing an estimated $13.6 million from 2,704 runs.

- from Variety