BURBANK, Calif., Feb. 9 (UPI) -- Hollywood's Walt Disney Studios Monday announced it has entered an exclusive long-term distribution pact with DreamWorks Studios.
DreamWorks co-founder Steven Spielberg and his partner Stacey Snider, who is chief executive officer of DreamWorks, have aligned with Disney to distribute and market their live-action movies produced by DreamWorks under their partnership with Reliance BIG Entertainment, part of The Reliance Anil Dhirubhai Ambani Group, it was announced Monday by Dick Cook, chairman of The Walt Disney Studios.
Under the terms of this arrangement, Disney will handle distribution and marketing for approximately six DreamWorks films each year. The first DreamWorks motion picture to be released under the Touchstone Pictures banner is scheduled to hit theaters in 2010.
Spielberg and Snider partnered with Reliance BIG Entertainment last fall to form a new motion picture company. In addition to being a partner in DreamWorks, Reliance will also distribute the new company's projects in India.
"We're both thrilled and honored to be marketing and distributing all of DreamWorks' signature upcoming live-action motion pictures, and to begin a new relationship with such respected colleagues as Steven, Stacey, and their creative team at DreamWorks," Cook said in a statement.
Spielberg added: "Disney is the birthplace of imagination and has always been as close to the worldwide audience as any company ever has. I am so pleased that industry leaders like Bob Iger and Dick Cook reached out to become our distribution partner. This is a major step forward for us and Reliance."