Universal restructures costly Spielberg contract

ORLANDO, Fla. -- Universal Orlando has renegotiated a contract with director Steven Spielberg that could've crippled the company.

The director has received a percentage of the resort company's gross revenue since 1987 for films that inspired several park rides, consulting and allowing his name in promotional materials.

The payments have averaged about $20 million a year, but Spielberg had an option to take the rest in a one-time payment in 2010. Analysts estimated it would cost hundreds of millions of dollars.

The company, owned by a unit of General Electric Co. and private-equity firm The Blackstone Group, couldn't afford the buyout. Universal is already trying to restructure nearly $1 billion in debt due in April.

The new Spielberg contract now pushes the director's call option to 2017.

Comments

Did Paul Freeman Accidentally Eat A Fly In Raiders of the Lost Ark?

The Famous Indiana Jones Fly In Belloq's Mouth Scene. Did It Really Happen? I've always wondered if Paul Freeman unintentionally consumed a fly in this scene in Raiders of the Lost Ark ? It's the scene where Indiana Jones shouts down to Bellosh...I mean Belloq and threatens to blow up the ark. Did a fly go in his mouth? I remember watching this scene back in the early eighties and my ten year old mind thought he definitely had a snack while filming. I recall talking about 'flygate' in my school playground at the time and the general consensus with my friends was that Freeman definitely had a sneaky snack. Paul Freeman talks about the famous 'fly' scene in an interview with TheIndyExperience.com and settled 'flygate:' This is a bit of a dicey question so don’t get too upset. (Laughs) A movie’s always got bloopers in it, some have a lot, and some only have three or four. And the most remarkable blooper was right before the opening of th...

Star Wars VII Movie Poster - Every End Is A New Beginning

Star Wars VII Movie Poster Just saw this Star Wars VII movie poster on Kyle Newman's Facebook fee d. The poster is by Lyndon Berresford and Paul Bateman. I am loving this. Who do you think the two characters are? Lando and Leia? Han and Leia's children? Have you seen other Star Wars VII movie posters? Let me know. Rob Wainfur @welshslider

Explaining That "Weird" Cut In Poltergeist. Read The Missing Scene

Why Is There A Strange Cut In The 1982 Horror Classic, Poltergeist? If you're a fan of the 1982 Horror classic, Poltergeist then you will be very familiar with that "weird" cut in the movie. It's 32 minutes and 47 seconds in to the movie and the scene is where Diane is explaining the strange phenomenon that is happening in the kitchen. First, she shows to Steve a chair scraping across the floor all on its own then she does the same with Carol Anne. Steve leans up against the kitchen wall and is completely shocked at what just happened. It's at this point Diane starts to explain the sensation of being pulled and then...A very abrupt cut. One moment we are listening to Diane and suddenly it cuts to Diane and Steve at their next door neighbours door. Why the sudden cut? It's on the VHS, DVD, Blu-Ray and even the streaming versions. Why does this awful and weird cut exist in the movie, Poltergeist? Watch the clip below to see the cut...

The Bearded Trio

Search This Blog