It looks like Steven Spielberg’s plans of revitalise DreamWorks are getting many backers. The latest to join the initiative is the Canadian-based media giant Entertainment One, according to The Hollywood Reporter.
If all goes as planned, EOne will join Participant Media and DreamWorks’ stakeholder Reliance Entertainment in providing DreamWorks with an equity infusion. The arrangement is expected to be revealed around the same time that a new distribution deal between DreamWorks and Universal is officially announced, possibly by Thanksgiving.
Participant Media is said to be investing close to $200 million in DreamWorks. But, it isn’t still clear whether India’s Reliance would continue to invest in Spielberg’s venture, although there is no reason to believe otherwise.
EOne, which produces and acquires television and film content, has major distribution operations in Canada, UK, Spain, Benelux and Australia/New Zealand. It’s unclear as to whether the company would get distribution rights to DreamWorks’ titles in any of those territories as of now.
The new distribution deal between DreamWorks and Universal could take effect as early as 1 January, even though DreamWorks’ existing deal with Disney doesn’t expire until August 2016.
Some of the DreamWorks titles that will move from Disney to Universal include: The Girl on the Train, Ghost in the Shell, starring Scarlett Johansson and set to hit theaters 31 March, 2017. The BFG, directed by Spielberg, remains a Disney title since the studio is co-financing the family film (it is being produced via Spielberg’s Amblin label and not DreamWorks).
The deal with Universal is destined to come by, as it also comes on the heels of the blockbuster success of Universal’s Jurassic World. Spielberg, 68, was a hands-on producer on the tentpole and his involvement is key to future installments. Spielberg and director Colin Trevorrow are set to work on the sequel, which will hit theaters 22 June, 2018. He also is key on potential reboots of other Universal franchises such as Jaws and Back to the Future.