Movie Trailers CanMag Title Bar
CanMag RSS Feeds
CanMag's Index of Films How Are Films Selected?

Spielberg’s Billion Dollar Baby

Published December 16, 2005 in Movie Industry
By Kasey Schiedeck | Image property of CanMag.Com
Dreamworks Dreamworks Sold
In a monstrous $1.6 billion deal, DreamWorks SKG, the production company founded by Steven Spielberg, Jeffrey Katzenberg, and David Geffen, was bought out by Paramount Pictures (a division of Viacom Inc.) in an unexpected deal after eleven years of independence.

Dreamworks SKG Purchase Details

Spielberg began is immensely successful career as a young director at Universal under the watchful eye and guidance of Sid Sheinberg, Universal’s president for 22 years. At Universal, Spielberg created many of his colossal hits including “E.T.,” “Jaws,” and “Jurassic Park.” Sheinberg’s reply to deal implied little animosity saying, “I think he will always consider Universal his paternal home.”

NBC Universal was reportedly in negotiations to buy DreamWorks for the past nine months until the deal fell through and Paramount CEO Brad Grey stepped in.

Grey announced plans to increase the DreamWorks production to fourteen to sixteen films annually to include a mandated four to six live action films produced by Spielberg and Geffen. Analysts predict, however, that Spielberg will continue to work with other studios as he has always done.

The deal will officially close at the New Year.

Stay tuned for updates.

You Like? (Bookmarks)
Add to Heffee!
Compiled By (Sources)
Kasey Schiedeck
Sources: Image property of CanMag.Com

Related Articles
© 2004 Minds Eye One, All Rights Reserved
The Can Magazine™ is a trademark of Minds Eye One
All movie titles, movie icons, movie stills/clips/trailers/other media... are registered trademarks and/or copyrights of stated holders
CanMag.Com banners contain movie/gaming icons that were created by individual holders
Home > Movies > Spielberg’s Billion Dollar Baby

CanMag Web