Spielberg signs distribution deal with Universal

MUMBAI: After splitting from Paramount and stitching an equity deal with Reliance ADAG, Steven Spielberg‘s DreamWorks Studio has inked a seven-year distribution deal with Universal Studios.

According to the agreement, Universal will distribute the films created by DreamWorks.

Universal will receive an eight per cent fee for releasing about six films a year starting 2009 and it will bear the marketing costs. It will distribute the movies around the world except India where Reliance Big Entertainment will distribute them.

Spielberg made his early films, including ‘Jaws’ and ‘ET: The Extra-Terrestrial,’ for Universal.

In a statement, Speilberg said, "While it feels great to come home again, it feels like I never left."

Universal Studios president and COO Ron Meyer said, "We couldn‘t be more pleased to welcome the DreamWorks team back to Universal and our long history of success together will continue."

However, DreamWorks still has contractual obligations to complete around 33 pending projects with former Paramount. But Universal could share domestic distribution on some of those films.

In September this year Spielberg and Snider had signed a $1.5 billion deal with Reliance ADAG.