Steven Spielberg is moving DreamWorks Studios to Universal with a new distribution deal and is pulling in a $200 million equity investment from Participant Media, Variety reports. The deal will be announced before the end of the year, the publication reports, citing multiple sources with knowledge of the situation.
“Final details of the arrangement are still being ironed out, but the deal is expected to be wrapped up within days, bringing Spielberg’s operation a much-needed jump-start, both economically and strategically,” Variety reports. The story adds: “The transaction will bolster DreamWorks’ finances at a time when the continued commitment of its key equity investor, Reliance ADA Group of India, has come into question. However, one source cautioned that Reliance is expected to remain an active investor under the new deal.”
“The BFG,” directed by Spielberg and due next summer, will reportedly be the final DreamWorks film to be released by Disney.