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.
May 25, 2011 |
Former Universal Pictures co-Chairman David Linde has unveiled his new independent film finance and production company, the latest Hollywood venture to be backed by India's Reliance Entertainment. A spokesman for Linde declined to disclose details of the deal with Reliance, including how much capital the company is investing in the yet-to-be-named venture and what its ownership stake is. Reliance Entertainment, a division of the Indian media conglomerate Reliance ADA Group, has been stepping up its investment in Hollywood over the last several years.
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.
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.
September 12, 2012 |
Financially struggling Digital Domain Media Group Inc., owner of one of the entertainment industry's leading visual effects companies, said Tuesday that it had filed a voluntary bankruptcy petition after a series of costly projects, including a controversial new animation studio in Florida. The Florida company said it filed a Chapter 11 petition with the U.S. Bankruptcy Court in Delaware as part of an effort to "ensure the long-term future of its core business" and trigger a "sale of assets.