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DW/Uni merging?

07.28.2005

In a move that would bring Steven Spielberg back to the studio that released some of his most popular films, Universal is in talks to acquire DreamWorks, the studio set up by Spielberg, Jeffrey Katzenberg and David Geffen (hence the SKG). The new broke in yesterday's New York Post and numerous sources have since confirmed that the two parties have been in "serious talks" for a couple months though no deal is imminent at this point. Universal, which was recently purchased by NBC and its parent company General Electric, has been partnering with DreamWorks for many years distributing their DVDs and releasing their films internationally. The move comes as both studios have seen films with high expectations - CINDERELLA MAN for Universal and THE ISLAND for DreamWorks - vastly underperform. It also comes at a time when the animation arm of DreamWorks is under investigation from the Securities and Exchange Commission for trading of its securities and its first quarter earnings announcement. Universal already has a number of sister studios including its indie arm Focus Features and its genre house Rogue Pictures. Where DreamWorks would fit into that should it be acquired remains to be seen.

Source: LA Times

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