DreamWorks kills studio plan

LAP99070301 - 03 July 1999 - LOS ANGELES, CALIFORNIA, USA: Citing financing problems, DreamWorks SKG scrapped its proposed $250 million studio lot at Playa Vista on Thursday, ending a nearly 4-year-old effort to build what would have been Hollyood's first major studio since the Great Depression. Pictured left to right are the studio's founders, longtime Hollywood executive Jeffrey Katzenberg, diector Steven Spielberg and entertainment mogul David Geffen after announcing in 1992 the formation of their partnership. Spielberg was epecially enthralled with the idea of building a modern studio lot unlike the early Hollywood lots that he likened to Detroit's auto factories. Geffen was against it from the start and Katzenberg was ambivalent. jr/Jim Ruymen UPI