The Feeling Is Universal for Spielberg
James Devaney/WireImage.com
Steven Spielberg phoned home, and home answered.
With DreamWorks and Paramount failing to keep their corporate partnership alive, the filmmaker and former DreamWorks chief executive Stacey Snider have hitched their shingle to Universal Pictures, the studio which offered up early Spielberg classics such as Jaws and E.T.: The Extra Terrestrial.
The initial deal is for seven years and could include up to six movies a year.
Universal has been serving as DreamWorks' international distributor since Spielberg founded it with Jeffrey Katzenberg and David Geffen in 1994. While Paramount retains the right to distribute some of the new-look company's projects, global distribution will now fall largely on Universal's shoulders (minus in India, where financial backer Reliance Big Entertainment is based).
"We're ready to get started," Snider told the Hollywood Reporter. "We'll be phasing in the employees between now and January."
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