DreamWorks studio has now completed its separation from Paramount.
Stephen Spielberg, Jeffrey Katzenberg and David Geffen set up the company back in 1994 and has partnered with India’s Reliance BIG Entertainment in a massive $1.5 billion film deal however David Geffen will not be party to the new company.
Paramount CEO Brad Grey stated: “We have had a great run with the DreamWorks team both creatively and financially. In particular, it has been a true honour working closely with a storyteller of Steven’s talent and stature.”
Spielberg said: “Brad is a friend and I am pleased to be able to continue to work with him and his team, with whom we have shared many successes.”