DreamWorks and Disney have finalized a deal that will help DreamWorks cover cost gaps. Just three days ago Universal Studios dropped Steven Spielberg’s movie studio.
For the next 15 years DreamWorks has a home with Disney. The deal gives Disney the relationship with mega-director Spielberg that is a plus in Hollywood circles.
Disney will be pocketing 10 percent of every DreamWorks film while they are partners with Spielberg’s studio.
CNN Money reports:
“I don’t care if a Touchstone movie does $100 million on $30 million of cost,” Iger told me three months ago. “Its success doesn’t breed any other success in the company.”
The agreement gives The Walt Disney Studios distribution to about six films a year produced by DreamWorks Studios and DreamWorks co-founder Steven Spielberg. Those films will be made with partnership with Reliance BIG Entertainment.
The first of these films will be released under the Touchstone Pictures banner in 2010.
“Disney is the birthplace of imagination and has always been as close to the worldwide audience as any company ever has,” Spielberg said. “I am so pleased that industry leaders like (Disney President/CEO) Bob Iger and (Disney Chairman) Dick Cook reached out to become our distribution partner. This is a major step forward for us and Reliance.”