Spielberg’s $1 Billion Dream
I’ve been having some interesting conversations with filmmakers lately about the movie distribution process. In short, it seems like you either give up everything or try to do it yourself, without the backing of a big studio and/or distributor.
Steven Spielberg is jumping on that bandwagon, hoping to raise more than $1 billion in third party financing to reinvent Dreamworks as a separate company that once again owns the movies it makes.
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The Hollywood Reporter is reporting that Spielberg wants to bolt from Paramount and sign on with Universal, and Universal is hoping to land Spielberg and DreamWorks after losing out to Paramount in that quest a couple years ago.
But on recommendation from his advisers, Spielberg is facilitating a bidding war among the studios for distribution rights of future DreamWorks movies. In addition to Paramount and Universal, Disney, Fox and possibly Warner Bros. are the chief suitors. Wouldn’t it be nice to be in Spielberg’s position?
Spielberg’s contract with Paramount runs until 2010, but he can terminate it early at year’s end. Barring a revision of his current arrangement with Paramount, the only way he can own his future films is to leave Paramount.
It’s all very high-stakes, but it seems like studios would be begging Spielberg to work with them, given his track record at the box office. Or give him a majority share in the films, maybe?
I’m just sayin’…
Image: Steven Spielberg, Indiana Jones and the Kingdom of the Crystal Skull, Paramount Pictures, 2008
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POSTED IN: Celebrity Pictures, Distribution, Film Industry, Movie Stars, Personalities
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