Spielberg, Universal sign pact

Oct. 14, 2008 at 8:57 PM
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BURBANK, Calif., Oct. 14 (UPI) -- Stacey Snider and Steven Spielberg have announced a seven-year worldwide distribution deal between their new motion picture company and Universal Studios.

The partnership is expected to go into effect in 2009 and include approximately six films per year, the parties said in a news release.

Snider and Spielberg recently departed Paramount Pictures to partner with Reliance Big Entertainment on a new movie production company. Reliance Big will distribute the new company's projects in India.

"We are delighted to be back in business with Steven and Stacey and the rest of their superb team," Jeff Zucker, president and chief executive officer of NBC Universal, said in a statement. "They are longtime friends of ours and terrific moviemakers."

"We couldn't be more pleased to welcome the DreamWorks team back to Universal and our long history of success together will continue," added Ron Meyer, president and chief operating officer of Universal Studios.

"Universal has always been my home base so this agreement starts a new chapter in what has been a long and successful association," Spielberg said. "While it feels great to come home again, it feels like I never left, and Stacey and I look forward to working once again with our friends and colleagues, old and new."

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