Everyone knows who Steven Spielberg is and we all know what Paramount Studios stand for. I bet that most any person in this world can recognize the face and the image behind these two Hollywood icons. Spielberg has been partnered up with the Studio for quite some time now and it is sad news indeed that he is set to leave. Actually, it is Dreamworks, Spielgberg’s baby that has been partnered up with Paramount. In the very near future, Dreamworks will pull out of Paramount and will subsequently be dissolved.
So what will happen next? The parent company owned by Spielberg – Reliance BIG Entertainment – will form a new studio, which is partly financed by investors from India. So it is basically Hollywood and Bollywood coming together. As of yet, there is no news as to what the new studio’s name will be. There is also very little news as to what projects will be coming up.
Here is what little I could find, courtesy of Contra Costa Times:
The Times of India reports in its Monday editions that Mumbai-based Reliance BIG Entertainment and JPMorgan-Chase will finance the $700 million deal.
Most Dreamworks projects now in development will remain at Paramount, with the new Spielberg studio retaining the option to help produce several projects Spielberg was working on at the old Dreamworks.
In addition, Spielberg will continue to produce the “Transformers” franchise movies for Paramount and will also collaborate on three other Paramount films, including “When Worlds Collide,” the studios said.
As to the big director himself, he says that he is pleased with the recent developments.
Originally posted on October 8, 2008 @ 4:16 am