DreamWorks has reached a co-financing agreement with Spyglass Entertainment and former foe, but now frequent partner, Paramount Pictures to produce the comedy, Dinner for Schmucks—a deal that highlights the fact that Steven Spielberg’s outfit has still not yet raised money of its own.
The three studios will each fund a third of Dinner for Schmucks‘ budget.
DreamWorks had managed to wrest the film away from Paramount during last fall’s custody battle, but it was one of 17 on which Paramount retained the right to be a financial partner and distributor. The project was in jeopardy as DreamWorks struggled to come up with financing for its new studio, and it seems like there was a possibility the film could lose its two stars, Steve Carell and Paul Rudd, due to schedule conflicts.
So, this week Paramount and Spyglass agreed to put up most of the money to get the film made.
We feel for DreamWorks: this is no time to be trying to raise capital for anything, let alone movies. Perhaps the studio should consider more of these one-off financing deals. That’s what Paramount’s doing, after all.
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