The two mega-companies have teamed up. They are set to make 6 movies a year.�

DreamWorks has struck a much-anticipated deal for theatrical distribution with Universal Pictures in a seven-year agreement encompassing as many as six releases a year. The first project under the distribution deal should go before cameras by September.

Terms of the deal call for DW to pay Uni an 8% distribution fee.

Spielberg and DW chief Stacey Snider recently bolted Paramount to reconstitute DW as a private, separate production company. Several projects under development at Par will exit with Spielberg and Snider, but several DW/Par co-productions are likely over the next couple of years from among a batch of 33 key projects DW had in development at Par.

The new DW’s planned financial backing includes $550 million from India’s Reliance Big Entertainment, bank loans of as much as $750 million administered by JPMorgan Securities and $150 million in backup funding by Uni that would be drawn upon only if other funds were exhausted.

Good news, Dreamworks headquarters has been on the Universal Lot all along, now finally they will actually work together.�

Source: The Hollywood Reporter

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