Over the weekend, the divorce proceedings between DreamWorks and Paramount were worked out, with a settlement reached for about 40 projects in development, per VARIETY.
DreamWorks will take the lead on 15 to 20 films, and Paramount will retain the option of co-finance and co-distribute. Paramount will lead on another 15-20 films with DreamWorks retaining its option to co-finance.
DreamWorks Animation will create a sequel to hit KUNG FU PANDA, due in theaters on June 3, 2011. DreamWorks also anticipates releasing the film into IMAX theatres worldwide. The sequel to KUNG FU PANDA, like all DreamWorks Animation feature films starting in 2009, will be produced in stereoscopic 3-D technology.
DreamWorks has extended its option for the rights to sci-fi novel CHOCKY, per THE HOLLYWOOD REPORTER, but it is unclear who will actually produce the project: Paramount or the newly-independent DreamWorks.
CHOCKY, written in 1968 by John Wyndham, is about a boy who argues with a mysterious imaginary friend, until it becomes clear that the boy's consciousness has been taken over by an alien. Wyndham also wrote THE DAY OF THE TRIFFIDS.
DreamWorks and Indian media company Reliance have completed their deal to create a $1.2 billion stand-alone studio, reports the WALL STREET JOURNAL.
According to insiders, DreamWorks co-founder Steven Spielberg and DreamWorks CEO Stacey Snider can now leave Paramount Pictures to start their own film company. In the signed agreement, Reliance ADA Group, based in Mumbai, will invest $500 million equity and another $700 million in debt through J.P. Morgan Chase & Co. The venture is expected to produce a slate of around six films per year.
Vancouver ACM SIGGRAPH and the Vancity Theatre present the first annual SPARK Animation Festival, September 10-14, 2008. Don't miss your chance to get a seat at this five-day animation festival with premiere screenings as well as panels and presentations from a world-class line-up of directors, animators and filmmakers.
Featured guests include Ed Hooks (Animation Pioneer), Jimmy Hayward (Blue Sky Studios), Paul Topolos (Pixar), Paul Harrod (Bent Image Lab), Markus Manninen (DreamWorks) and Alex Parkinson (DreamWorks).
Glu Mobile will develop and publish the mobile game to launch in conjunction with the March 2009 film release of MONSTERS VS. ALIENS from DreamWorks Animation.
The 3-D animated film reinvents the classic '50s monster movie into an irreverent modern day action comedy.
Jill Braff, SVP of global publishing, Glu Mobile said, "The movie plot lends itself perfectly for a mobile game, and our production team is working closely with the DreamWorks team to bring the story and monstrously funny characters to mobile."
One of the most buzzworthy deals of the year has yet to close -- Indian media company Reliance Ent. still intends to invest $500 million in DreamWorks, but obstacles over small banking details are holding it up, per VARIETY. The deal was supposed to close several weeks ago, but now is weeks away from closing.
The basic deal is intact, insiders say, but the intricate banking details are causing a roadblock, causing problems for both Paramount and DreamWorks' staff as well as the other majors.
Vancouver ACM SIGGRAPH and the Vancity Theatre will present the first annual SPARK Animation Festival, September 10-14, 2008. Don't miss your chance to get a seat at this five-day animation festival with premiere screenings as well as panels and presentations from a world-class line-up of directors, animators and filmmakers.
Featured guests include Ed Hooks (Animation Pioneer), Jimmy Hayward (Blue Sky Studios), Paul Topolos (Pixar), Paul Harrod (Bent Image Lab), Markus Manninen (DreamWorks) and Alex Parkinson (DreamWorks).
IBC's International Honour for Excellence 2008 will be presented to Jeffrey Katzenberg, CEO of DreamWorks Animation SKG. The award will be presented during this year's event, which takes place in Amsterdam in September.
Intel Corporation and DreamWorks Animation have formed a strategic alliance aimed at revolutionizing 3-D filmmaking technology, beginning with MONSTERS VS. ALIENS, which is slated for a domestic release date of March 27, 2009. As previously announced, DreamWorks Animation has committed to producing all of its feature films in stereoscopic 3-D beginning next year.
The strategic alliance will take advantage of Intel's visual computing products and tools and DreamWorks Animation's expertise in content creation to advance the in-theater entertainment experience.
Representatives for Steven Spielberg and Indian conglomerate Reliance are continuing to speak daily about the terns of a proposed $1.5million deal that would create a privately-owned DreamWorks and produce some 30 films over the next five years, according to THE HOLLYWOOD REPORTER.
DreamWorks has bought the screen rights to THE 39 CLUES, an adventure series being launched this fall by Scholastic Media, per VARIETY. Steven Spielberg is debating whether to direct the project, which is a 10-book series that includes collectible cards and an online game.
DreamWorks co-chair and CEO Stacey Snider and Scholastic Media President Deborah Forte closed the deal.
Because DreamWorks is on its way out the door at Paramount, it was unclear whether the project would remain at the studio.
Coming off reaching the billion-dollar mark in international box office sales last weekend, Paramount Pictures has now also crossed the billion-dollar milestone on its domestic gross sales, making it the first studio to accomplish this feat this calendar year and besting last year's billion-dollar record by nearly three weeks.
The principals of DreamWorks SKG are close to a deal with one of India's biggest entertainment conglomerates, reports THE WALL STREET JOURNAL this morning.
According to people familiar with the situation, the deal would form a new movie venture, giving director Steven Spielberg the cash to finance his DreamWorks team's departure from Paramount later this year.
Mumbai-based Reliance ADA Group would provide Spielberg with $500 to $600 million in equity, moving them one step closer to leaving Viacom, which has been a contentious relationship from the start.
MARKETWATCH reports that an analyst at UBS downgraded shares of DreamWorks to a sell rating today.
DreamWorks enjoyed a sizeable run-up on its shares leading up to the now-successful release of KUNG FU PANDA.
"We are downgrading the DreamWorks shares to Sell from Neutral reflecting our belief that the current share price exceeds the true intrinsic value of the company," analyst Michael Morris wrote in a note to clients.
Steven Spielberg is reportedly trying to raise more than $1 billion in third-party financing to reinvent DreamWorks as a separate company, once again owning the movies it makes, per THE HOLLYWOOD REPORTER.
Moviegoers worldwide are sure to be delighted by the breakthrough animation achieved through the combination of HP technology and DreamWorks Animation's creativity as DreamWorks Animation's KUNG FU PANDA, hits theaters today.
HP also partnered with DreamWorks Animation, Nickelodeon and McDonald's to bring KUNG FU PANDA to life outside the movie theater in fun, interactive ways, including an HP "The Computer Is Personal Again" TV spot featuring Po the Panda, downloadable activities and crafts, and a choreographed "The Panda" dance that the whole family can learn.
THQ and DreamWorks Animation have entered into an exclusive licensing agreement to develop and publish video games based on the studio's 2010 fall animated feature film.
The film, acquired under the working title of MASTER MIND, is due in theaters on November 5, 2010. The new agreement grants THQ exclusive rights to publish interactive games based on the DreamWorks Animation property for all console and handheld systems, wireless devices and Windows PCs.
In a break from his usual sunny demeanor of the digital cinema rollout, DreamWorks Animation CEO Jeffrey Katzenberg said he was disappointed at the way things have been progressing, per VARIETY.
DreamWorks has optioned the rights to ATLANTIS RISING, a comic book from Platinum Studios, according to THE HOLLYWOOD REPORTER.
Alex Kurtzman and Roberto Orci will produce the live-action feature adaptation for DreamWorks. Platinum chairman and CEO Scott Mitchell Rosenberg will also produce.
DreamWorks has acquired the rights to GHOST IN THE SHELL, and plans to turn the Japanese manga into a 3D live-action feature, per VARIETY.
Steven Spielberg took an active role in the deal, telling VARIETY, "GHOST IN THE SHELL is one of my favorite stories," said Steven Spielberg. "It's a genre that has arrived, and we enthusiastically welcome it to DreamWorks."
The fantasy adventure script IMAGINARY FRIENDS has been purchased by DreamWorks, according to VARIETY.
Newcomers Cornelius Uliano and Bryan Schulz, who met at the Brooks Institute of Photography, were paid in the six-figure range for their work.
The studio is keeping the logline under wraps.
HP and DreamWorks will take the stage on Monday, April 14 at the NAB Show to discuss fast-approaching technology changes that have the opportunity to dramatically influence the broadcast, film/video post, animation and graphic arts industries.
DreamWorks Animation will wait to release the 3D flick HOW TO TRAIN YOUR DRAGON until March 26, 2010, a less crowded date, according to THE HOLLYWOOD REPORTER.
DRAGON was previously scheduled to open on Nov. 20, 2009, where it would have been competing with A CHRISTMAS CAROL with Jim Carrey and James Cameron's AVATAR, both in 3D.
Development company Tatweer, a member of Dubai Holding, announced it has formed a strategic alliance with DreamWorks Animation SKG, Inc. to develop a diverse portfolio of tourism and leisure projects in Dubailand, the world's most ambitious tourism, leisure and entertainment destination. A highlight of the alliance will be the creation of a 5 million-square-foot DreamWorks Animation branded theme park in Dubai.
