Close to three months have gone by since the initial buy-out of DreamWorks SKG by Viacom, the media giant and parent company of Paramount Pictures. Now, it looks like they're getting some help on the cost.
It became official when George Soros, a Hollywood billionaire and European philanthropist, and Dune Entertainment took control of the 59 live-action film titles previously held by DreamWorks for a price tag of $900 million. That deal will stand for the next five years, but does not include anything from DreamWorks Animation, still headed by Jeffrey Katzenberg.
Dune Entertainment, a new company formed in January, put $325 million into the pot with Soros; that's addition to money they have invested in 28 new movie titles with Fox Filmed Entertainment. Their first release was the recent remake of Wes Craven's The Hills Have Eyes.
The completion of the merger is supposed to occur in April.