Paramount and DreamWorks have worked out a joint arrangement for their nearly 40 development projects, according to Variety.
As part of the separation agreement, DreamWorks will take the lead on 15-20 projects, with Paramount retaining an option to co-finance and co-distribute the films.
Though the two companies declined to list the projects affected because filmmakers are still being contacted, insiders say two Steven Spielberg directing vehicles -- The 39 Clues and The Trial of the Chicago 7 -- as well as the Sacha Baron Cohen comedy Dinner With Schmucks are among the titles.
Similarly, Paramount will take the lead on another 15-20 projects, with DreamWorks holding an option to co-finance. Paramount will keep in its fold the remainder of the 200 DreamWorks-developed projects, and DreamWorks will no longer be involved creatively or financially.