June 18, 2008 |
DreamWorks SKG, the movie studio founded by Steven Spielberg, David Geffen and Jeffrey Katzenberg that has been chafing under ownership of media giant Viacom Inc., is in talks with a number of potential investors, including one of India's biggest entertainment concerns, to raise financing to become an independent company once again. But a person familiar with the situation cautioned that talks were fluid and no deal was imminent.
June 19, 2008 |
Anil Ambani is a major player in Bollywood. He has designs on being the same in Hollywood. The Indian billionaire owns movie production facilities and theater chains in his homeland, as well as a piece of an Indian post-production company, Prime Focus Group, that lately has been acquiring similar firms in Hollywood. His wife is Tina Munim, a famous Bollywood actress and former Miss India. Now Ambani is making a play for a major share of the Hollywood limelight.
October 6, 2008 |
Ending a short-lived and bitter relationship, DreamWorks SKG, the movie studio founded by Steven Spielberg, and Paramount Pictures said Sunday that a deal had been struck to part ways. The pact, resembling an amicable divorce settlement with joint custody of about 40 movie projects, came rather smoothly and faster than expected in light of the tense relations between the two studios. Paramount's parent, Viacom Inc., acquired DreamWorks for $1.6 billion in 2006.
September 22, 2008 |
Check out those parting words Paramount Pictures chose Friday when kissing DreamWorks goodbye. In its prepared statement, the studio brass told Steven Spielberg and his pals that not only could they leave and take everyone with them to their new production company (never mind those pesky employment contracts), but they could do it "without delay." In other words: Good riddance. But, hey, no hurt feelings.
October 16, 2008 |
Looking to cut overhead and operating expenses after the recent departure of DreamWorks co-founder Steven Spielberg, Paramount Pictures plans to release fewer films, consolidate operations and slash 25 jobs among those DreamWorks employees who remain. Paramount's management is under heightened pressure from corporate parent Viacom Inc. to continue finding efficiencies at the studio amid a tough economic climate and the increasingly profit-challenged movie business.
November 4, 2008 |
Sumner Redstone hinted Monday that he might sell his family's movie theaters to fix his pressing debt problems. In a conference call with analysts, the 85-year old media mogul said his privately held National Amusements Inc., which operates 1,500 theaters, owns "valuable real estate holdings throughout the country." The company must come up with an $800-million debt payment next month as it negotiates with lenders to restructure $1.6 billion in loans. Redstone, during the call for Viacom Inc.'