Universal Walks Away From DreamWorks Deal
Source: The Hollywood Reporter
February 6, 2009
Universal Pictures said Friday that it no longer plans to distribute DreamWorks' movies, says The Hollywood Reporter.
Instead, DreamWorks heads Steven Spielberg and Stacey Snider are in advanced talks with the Walt Disney Co. about a distribution deal. While other studios like Fox have also been mentioned as possible DreamWorks suitors in the past, a potential Disney deal appeared to be the only one on the table at the moment.
Universal released a statement saying, "Universal Pictures has ended discussions with DreamWorks for a distribution agreement. Over the past several weeks DreamWorks has demanded material changes to previously agreed upon terms. It is clear that DreamWorks' needs and Universal's business interests are no longer in alignment. We wish them luck in their pursuit of funding and distribution of their future endeavors."
For more on DreamWorks' financial situation, click here.
Instead, DreamWorks heads Steven Spielberg and Stacey Snider are in advanced talks with the Walt Disney Co. about a distribution deal. While other studios like Fox have also been mentioned as possible DreamWorks suitors in the past, a potential Disney deal appeared to be the only one on the table at the moment.
Universal released a statement saying, "Universal Pictures has ended discussions with DreamWorks for a distribution agreement. Over the past several weeks DreamWorks has demanded material changes to previously agreed upon terms. It is clear that DreamWorks' needs and Universal's business interests are no longer in alignment. We wish them luck in their pursuit of funding and distribution of their future endeavors."
For more on DreamWorks' financial situation, click here.
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