Official: Paramount and DreamWorks broke up on Oct 5

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(see feature story following), but first...

> Latest announced Paramount Blu-ray titles:

Releasing Dec 16, 2008:
(2005) Coach Carter
(2007) Hot Rod
(2007) Into the Wild
(1995) Tommy Boy: Holy Schnike Edition

Releasing Dec 30, 2008:
(1990) Days of Thunder
(1997) Event Horizon
(1990) Ghost
(2006) Last Holiday
(1998) The Truman Show

Releasing Jan 6, 2009:
(2006) Dexter: Complete First Season

Releasing Jan 13, 2009:
(2008) Without A Paddle: Nature's Calling

Releasing Jan 20, 2009:
(1999) Election

Releasing Jan 27, 2009:
(2007) Zodiac

-we will add these soon to our database

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Paramount, DreamWorks Split

By Chris Tribbey - Oct 5, 2008
(Home Media Magazine)

The split between Paramount Pictures and DreamWorks SKG was finalized Oct. 5, clearing the way for DreamWorks to start anew with India's Reliance BIG Entertainment as a financing partner.

The Associated Press reported that DreamWorks co-founder Steven Spielberg (and DreamWorks executive Stacey Snider) was expected to announce a new distribution partner as soon as this week, with Universal Studios expected to get the nod.

"We have had a great run with the DreamWorks team both creatively and financially. In particular, it has been a true honor working closely with a storyteller of Steven's talent and stature," said Brad Grey, chairman and CEO of Paramount Pictures, in a joint press release. "We are also grateful to David and Stacey for their exceptional leadership, creative talent and many contributions to our partnership over the past few years. We look forward to building on our joint successes as Paramount plans for the future."

The separation agreement has Reliance BIG Entertainment taking the reins on as many as 20 film projects owned by Paramount. Paramount would have the option to co-finance and co-distribute those films, and reportedly has the option to co-finance and co-distribute new DreamWorks movies through 2009.

"Brad is a friend and I am pleased to be able to continue to work with him and his team with whom we have shared many successes," Spielberg said. "We have enjoyed a productive creative and business collaboration with Brad, Paramount and Viacom over the past few years and are enthusiastic about extending the relationship for many years to come. And I have a very special thanks to David Geffen for his far-reaching vision that has made it possible for me to steer this new course. His advice and wisdom have always been right on the money. He is a friend for life."

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(more details also following)

DreamWorks Executives Sever Ties With Paramount to Form a New Company

By Michael Cieply - Oct 5, 2008
(The New York Times)

LOS ANGELES — The movie executives Steven Spielberg, David Geffen and Stacey Snider have formally severed their ties with Paramount Pictures, ending a sometimes stormy three-year relationship and clearing the way for a new film company they have had in the works for months.

Under a separation agreement announced Sunday, the new company, to be led by Mr. Spielberg and Ms. Snider, will take the lead in developing a number of projects now owned by Paramount, which would have an option to co-finance and co-distribute them.

Mr. Geffen, who was a principal force in organizing the new company, does not intend to become part of it, Paramount and DreamWorks said in a joint statement.

Ms. Snider has been chief executive of Paramount's DreamWorks subsidiary, which counts "Transformers" and "Norbit" among its recent hits. Mr. Spielberg and Mr. Geffen founded DreamWorks SKG in 1994 with Jeffrey Katzenberg and sold it in 2006 for $1.6 billion to Viacom, Paramount's parent company. Since then Mr. Geffen and Mr. Spielberg have essentially operated as advisers without executive titles; Mr. Katzenberg runs DreamWorks Animation Studios, a publicly owned company that is separate from Paramount.

The new venture, backed by Reliance Big of India with debt financing raised by J. P. Morgan Securities, is expected to have at least $1.3 billion in resources and will make about six films a year.

Spokesmen for the companies declined to identify the films. But a person briefed on the agreement — who spoke on condition of anonymity because the filmmakers involved had not yet been informed of their movies´ status — said the arrangement divided about 200 development projects that Paramount owned through DreamWorks into three groups.

The first group includes as many as 20 films to be developed by the former DreamWorks principals with an eye toward possible Paramount involvement. Among them is "The Trial of the Chicago 7," which Mr. Spielberg has been producing with the writer Aaron Sorkin and the director Paul Greengrass.

The second group of 15 to 20 films will be developed by Paramount.

The rest of the films will remain at Paramount with no connection to the new company. Mr. Spielberg, meanwhile, will continue to work as a producer on "Transformers: Revenge of the Fallen" and three additional Paramount films, including "When Worlds Collide," a science fiction adventure.

Ms. Snider, Mr. Geffen and Mr. Spielberg chose to leave after clashing for years with Paramount´s chairman Brad Grey and his staff over management authority and public credit for DreamWorks projects.

Under an arrangement with DreamWorks Animation Studios, the new company is expected to use the DreamWorks name. It has yet to lock down a distributor for its movies, though Universal Pictures, which has a long history with Mr. Spielberg, is widely expected to fill that role.

A hundred or more of about 140 current Paramount-DreamWorks employees are expected to join the new operation. Other employees are expected to remain with Paramount, while a handful are likely to find a place with neither company, people briefed on the situation said.

UPDATED STORY (Oct 15)...
> DreamWorks 2.0: Studio (& Spielberg) join forces with Universal - Spielberg returns to his studio roots

Please Note - More details:
Be sure to check out the full details under related releases.

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