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DreamWorks and Paramount make breakup official, hands out tissues
And to think, most of you probably had no idea that these two were even having issues. After Paramount's parent company, Viacom Inc., acquired DreamWorks in 2006 for $1.6 billion, things were never exactly pleasant. Now, the two have finally hammered out a deal that will enable them to part ways and retain "joint custody," if you will, of around 40 movie projects. Where do things go from here? Spielberg and his team of executives are out to form an "independent studio backed by one of India's biggest conglomerates, Reliance ADA Group, which plans to invest $550 million for a 50% stake." Under the settlement, Spielberg's new firm (which will still go by DreamWorks) will take the lead on upwards of 20 film projects currently owned by Paramount. As with most divorces, this one too is filled with complexities -- if you're into that, tap the read link for all the minutiae.
[Image courtesy of Kinoweb]
