STEVEN SPIELBERG - SPIELBERG SPENDS $13 MILLION TO KEEP DREAMWORKS PROJECTS

SPIELBERG SPENDS $13 MILLION TO KEEP DREAMWORKS PROJECTS

Director-turned-movie mogul STEVEN SPIELBERG is spending $13 million (GBP8.7 million) of his own money, so his Dreamworks studio can keep the catalogue of movies it has in the works.
Dreamworks ended its partnership with Hollywood giant Paramount in 2008, and has set up business with an Indian conglomerate called Reliance.
The separation left Dreamworks owing Paramount around $30 million (GBP20 million) for the rights to a number of upcoming projects including The 39 Clues, The Trial of the Chicago 7, Dinner with Schmucks, Motorcade and Atlantis Rising.
And Daily Variety claims Spielberg has agreed to spend $13 million out of his personal fortune. Reliance will pay the remainder.