Dreamworks Animation has extended their licencing agreement with Steven Spielberg. Last week saw a change to Dreamworks (not the animation) to Amblin Partners which sees new backers and collaborations. Here's the press release on the new extension to the deal:
On December 21, 2015, DreamWorks Animation entered into an amendment to the License Agreement, effective as of January 1, 2009 with DW II Management, Inc. (the “Spielberg Entity”) and Steven Spielberg. Pursuant to the License Agreement, DreamWorks previously granted the Spielberg Entity (a) the right to use certain trademarks, service marks and trade names containing the term “DreamWorks” and (b) the right to grant a sublicense (the “Sublicense”) to DreamWorks II Holding Co., LLC and its wholly owned and controlled subsidiaries (collectively, “Holding Company”) to use such trademarks, service marks and trade names. Pursuant to the Amendment, the parties have further amended the License Agreement to extend the term of the License Agreement until the earlier of (i) the initial release date of the thirtieth motion picture produced (or co-produced), acquired, distributed or released by or for Holding Company, or (ii) January 31, 2016. DWA also consented to Spielberg Entity permitting the assignment by Holding Company of all of its rights and obligations under the Sublicense to Storyteller Holding Co. LLC (“Assignee”), provided that pursuant to such assignment Assignee shall expressly assume and agree to be bound by all of the obligations of Holding Company under the Sublicense.
Mr. Spielberg is the beneficial owner of more than 5% of the Company’s outstanding Class A Common Stock. Spielberg Entity is wholly owned and controlled by Mr. Spielberg. Mr. Spielberg also indirectly owns a minority interest in Assignee.
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