DreamWorks Stays With Universal.After negotiations with Warner Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . failed to bear fruit, DreamWorks SKG SKG Stichting Kwaliteit Gevelbouw (Dutch) SKG Spielberg, Katzenberg,and Geffen (DreamWorks Studios) SKG Thessaloniki, Greece - Thessaloniki (Airport Code) SKG Smith and Kraus Global reupped with Universal Studios on a new five-year international theatrical and video distribution deal. As part of the deal, Universal will reportedly give DreamWorks $250 million in the form of a loan and an advance against future revenue. DreamWorks is more than $1 billion in debt. Although a deal with Warner Bros. was said to be in its final stages, a number of sticking points sticking point n. A point, issue, or situation that causes or is likely to cause an impasse. Noun 1. sticking point - a point at which an impasse arises in progress toward an agreement or a goal could not be resolved. The terms of the two offers were said to be similar. DreamWorks, which distributes its own movies in theaters in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada, has had an international and global video distribution deal with Universal since 1995 that was set to expire expire /ex·pire/ (ek-spi´er) 1. to exhale. 2. to die. ex·pire v. 1. To breathe one's last breath; die. 2. To exhale. at the end of this year. The new deal also extends Universal's right to use DreamWorks characters and concepts in its theme parks. Under a separate deal, Universal Music also distributes Dream Works tapes and CDs. DreamWorks will reportedly use the cash infusion to pay down its liabilities and for production financing. DreamWorks had been shopping its distribution deal all over Hollywood since last year, hoping that one of the major media companies would agree to take equity in the company. But none of the parties, including Viacom-owned Paramount Pictures, Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. and News Corp.-owned 20th Century Fox, elected to go the route. Despite the lack of a distribution deal, Warner Bros. continues to have a strong relationship with DreamWorks, with which it is co-financing and distributing movies such as the Steven Spielberg-directed "A.I.," due out in June. |
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