DreamWorks Nails Down Disney Deal

Spielberg's studio to get financing, distribution for six films a year
By Nick McMaster,  Newser Staff
Posted Feb 9, 2009 3:10 PM CST
In this Feb. 25, 2007 file photo director Steven Spielberg arrives for the 79th Academy Awards in Los Angeles.   (AP Photo/Reed Saxon, File)
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(Newser) – Steven Spielberg’s DreamWorks has secured a distribution deal with Disney, the Wall Street Journal reports. Under the agreement, Disney will handle marketing and distribution for six live-action DreamWorks films per year and give Spielberg’s studio access to $150 million in financing.

Universal Studios abruptly dropped its deal with DreamWorks 3 days ago, after Spielberg asked for more financing to cover gaps in DreamWorks’ budget, stricken by the global financial crisis. The Disney deal will also allow DreamWorks to program on Starz Entertainment, a cable channel which licenses Disney’s movies for broadcast.