Spielberg May Split From Paramount

Angry director could pack up DreamWorks and leave studio

By Heather McPherson, Newser User

Posted Jul 20, 2007 10:23 AM CDT

(Newser) – Steven Spielberg is so disillusioned with Paramount Pictures that he may bail on the studio, which less than 2 years ago bought the director's DreamWorks for $1.53 billion. The legend behind Jaws, E.T., and Transformers is furious that Paramount takes credit for his movies and mistreats his friends, including firing best bud Tom Cruise, Business Week reports.

The move, which can't come before Spielberg's 3-year contract expires in late 2008, would devastate Paramount. Studio chief Brad Grey's attempts to make peace with the three-time Oscar winner include donating $1 million to Spielberg's Shoah foundation, but the damage may already be done. Says one industry exec: "If it continues like it is, they're gone."

Steven Spielberg arrives at St. Matthews Cathedral in Washington, May 1, 2007 to attend the funeral service for Jack Valenti. (AP Photo/Susan Walsh) (Associated Press)

Steven Spielberg arrives at the Women In Film 2007 Crystal Lucy Awards in Beverly Hills, Calif., Thursday June 14, 2007. (AP Photo/Mark J. Terrill) (Associated Press)

Director Steven Spielberg dons a cap as he leaves the funeral of Jack Valenti, the former White House aide and film industry lobbyist, Tuesday, May 1, 2007, at the Cathedral of Saint Matthew the Apostle... (Associated Press)

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Spielberg May Split From Paramount

Angry director could pack up DreamWorks and leave studio

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Deal would speed Spielberg team's Paramount departure

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Spielberg May Split From Paramount

Angry director could pack up DreamWorks and leave studio

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OTHER STORIES ON OUR RADAR

David Geffen • Viacom • Steven Spielberg • film • Jeffrey Katzenberg • Brad Grey • Paramount Pictures • Tom Hanks • Jaws • E.T. • DreamWorks • celluloid • movies • Oscars

MOST POPULAR STORIES

[ By Views ]

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Speilberg & Paramount Head for Divorce

Unhappy DreamWorks director will likely seek new backer

Spielberg, Paramount Split DreamWorks Projects

Divorce accomplished without years of litigation, projects divvied up

DreamWorks Near Bollywood Alliance

Deal would speed Spielberg team's Paramount departure

Spielberg Strikes Huge Universal Deal

Universal Studios to distribute up to 6 films a year

Paramount Drops Blu-Ray for HD DVD

High-definition format war takes a new turn as player prices fall

About Us

Site

Newser By Users

Community

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More News

What is Newser?