Steven Spielberg's DreamWorks Pictures announced on Monday that they have inked a distribution deal with Universal Studios. The distributor will receive an eight percent fee for their work.
DreamWorks 2.0, as Mr. Spielberg dubbed it, will now have the greater flexibility of approving and producing the products of their choice, a change from when the company was a wholly-owned subsidiary of Viacom, Inc.'s Paramount Pictures.
The studio announced their new-found independence last week when they struck a deal with Reliance ADA's Reliance Big for $500 million in equity.
Mr. Spielberg will continue to produce the Transformers franchise for Paramount and will also collaborate on three other Paramount films including, "When Worlds Collide." Here is the official press release:
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