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(Reuters) - DreamWorks Studios, the film company co-founded
by Steven Spielberg, has struck a deal for a $200 million equity
investment by entertainment company Participant Media, and will
shift to Universal Pictures for distribution before the end of
the year, Variety reported, citing sources familiar with the
situation.
The final details of the deal are still being worked out, but is
expected to be wrapped up within days, Variety reported.
Participant Media was founded in 2004 by billionaire and former
eBay Inc President Jeff Skoll.
DreamWorks had turned to Disney late in 2008 when Universal
balked at its demand for more upfront money and fees from
Universal's TV distribution pact with HBO, a source close to the
matter had told Reuters. (http://reut.rs/21Uk3jf)
DreamWorks Studios, Participant Media, Comcast Corp's Universal
Pictures and Disney were not immediately available for comment.
(Reporting by Anya George Tharakan in Bengaluru; Editing by
Shounak Dasgupta)
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