Entertainment One signs Steven Spielberg deal

The listed company has secured the exclusive rights to distribute all of the films produced by DreamWorks Studios, the production firm co-founded by the Jaws director, in the UK and Benelux, for the next four years.
The terms of the agreement have not been disclosed, but it is expected to cover between four and six DreamWorks films every year, including Mr Spielberg’s next projects. Mr Spielberg, who founded DreamWorks with film executive Stacey Snider and investment firm The Reliance ADA Group, is one of the world’s most bankable directors.
His 1975 blockbuster Jaws made $260m at the box office when it was released, equivalent to nearly $1.1bn today. E.T, which notched up more than $435m in 1982, is the fourth biggest grossing movie of all time on an adjusted basis.
Entertainment One’s deal will see it make a contribution to the budgets of DreamWorks releases, in exchange for exclusive rights to release the films in cinemas in the UK and Benelux, where it will take a cut of royalties. All of Mr Spielberg’s films are released through DreamWorks though the studio also releases films by other directors.
The first film covered by the deal will be Starbuck, a remake of a French-language film which will star Vince Vaughn and be directed by Ken Scott, who also oversaw the original.

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