Mumbai: Steven Spielberg and Stacey Snider have signed a seven-year worldwide distribution deal with Universal Studios under their new motion picture company with Reliance BIG Entertainment.
However, this worldwide deal does not include the Indian region where Reliance Big Entertainment will distribute the new company’s projects.
The deal with Universal Studios is expected to begin in 2009 and include approximately six films per year. Snider and Spielberg recently departed Paramount Pictures to partner with Reliance Big Entertainment on a new motion picture company.
"We are delighted to be back in business with Snider and Spielberg and the rest of their team. They are longtime friends of ours and terrific moviemakers. We are honored to be part of the next chapter of their success," said NBC Universal president and CEO Jeff Zucker.
"We couldn’t be more pleased to welcome the DreamWorks team back to Universal and our long history of success together will continue. As always, it is an honor to do business with Spielberg and colleague Snider," added Universal Studios president & COO Ron Meyer.
"Spielberg and I have both enjoyed successful, long-time relationships with Meyer and everyone at Universal. Having spent a decade in the Universal family, I’m very familiar with their distribution and marketing teams, under the dynamic leadership of Marc Shmuger and David Linde. Spielberg and I are looking forward to this new association with our old friends," said Snider.
"Universal has always been my home base so this agreement starts a new chapter in what has been a long and successful association. While it feels great to come home again, it feels like I never left, and Snider and I look forward to working once again with our friends and colleagues, old and new. It’s an exciting time for us and we want it to be equally as productive and rewarding for Universal," said Spielberg.
David Geffen negotiated the deal on behalf of the new motion picture company. As previously announced, Geffen will not be joining Snider and Spielberg in the new company.
"Geffen has been my partner for 14 years, my advisor for 30 and will be my friend for life. DreamWorks will have a second chapter because of Geffen’s vision and indomitable spirit," said Spielberg.