Paramount buys Dreamworks

Iria · Dec 13, 2005, 05:56 AM

Paramount beat out rival NBC Universal in the race to buy Dreamworks. For $1.6 billion dollars, Paramount will get Dreamworks' SKG ilm library and the services of David Geffen and Steven Spielberg. About half of the money is in cash, while the other half is an assumption of Dreamworks' debt. Spielberg will stay with the company as a producer-director, while Geffen will remain chairman.

Spielberg is a well-known film director, having made films like Saving Private Ryan and E.T. Many of those films have served as the basis for computer video games. Geffen formed the Geffen Record Company in his early days. In the mid-80s he went into film production and made films like Beetlejuice and Little Shop of Horrors. In 1994, he teams up with Steven Spielberg and Jeffrey Katzenberg to form Dreamworks. The SKG stands for the first letters of the three partner's last names.
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Read More / Source: TG Daily

Dec 13, 2005, 05:56 AM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Paramount buys Dreamworks Paramount beat out rival NBC Universal in the race to buy Dreamworks. For $1.6 billion dollars, Paramount will get Dreamworks' SKG ilm library and the services of David Geffen and Steven Spielberg. About half of the money is in cash, while the other half is an assumption of Dreamworks' debt. Spielberg will stay with the company as a producer-director, while Geffen will remain chairman. Spielberg is a well-known film director, having made films like Saving Private Ryan and E.T. Many of those films have served as the basis for computer video games. Geffen formed the Geffen Record Company in his early days. In the mid-80s he went into film production and made films like Beetlejuice and Little Shop of Horrors. In 1994, he teams up with Steven Spielberg and Jeffrey Katzenberg to form Dreamworks. The SKG stands for the first letters of the three partner's last names. __________ Read More / Source: TG Daily