Foxy business for DreamWorks
22 Aug 2012 by iclover
Just as DreamWorks Animation sees the end to their deal with Paramount, a new agreement with 20th Century Fox emerges. With no hesitation over a new deal, Fox and DreamWorks have struck a five-year distribution agreement.
The deal with Viacom’s Paramount expires at the end of this year, leaving DreamWorks to benefit greatly from the deal with Fox, who have accepted distribution and select marketing responsibilities, for both international and domestic markets. This deal will include all DreamWorks animated films from 2013 until 2017.
The deal is great news for Fox, too; they will receive a distribution fee from global theatres and gross receipts from home video and international television, as well as profit from digital businesses and rentals. The people who brought you Shrek will still, however, retain rights of product distribution for TV without having to pay a fee to Mr. Murdoch.
CEO of DreamWorks Animation, Jeffery Katzenberg said the company was “taking advantage of lower costs associated with the emerging digital distribution landscape and managing domestic television distribution in-house.”