Spielberg Strikes Huge Universal Deal

Universal Studios to distribute up to 6 films a year
By Peter Fearon,  Newser Staff
Posted Oct 14, 2008 10:29 AM CDT
Steven Spielberg and his DreamWorks partner Stacey Snider. DreamWorks has struck a major distribution deal with Universal, where he made his classic early blockbusters.   (Photo: Business Wire)
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(Newser) – Steven Spielberg is returning to the Hollywood studio where he made his classic blockbusters Jaws and ET.  Spielberg's DreamWorks, backed with $1.4 billion in new financing, has struck a seven-year distribution deal with Universal for as many as six new releases a year, according to the Hollywood Reporter.

"Universal has always been my home base, so this agreement starts a new chapter in what has been a long and successful association," said Spielberg. Universal Studios' president added: "We couldn't be more pleased to welcome the DreamWorks team back."