Divorce proceedings between the DreamWorks principals and Paramount Pictures took an unexpectedly amicable turn Sunday as the two sides announced a separation agreement under which they are dividing up about 200 projects in the DreamWorks development pipeline.

With DreamWorks founder Steven Spielberg and co-chairman/CEO Stacey Snider in the process of forming a new company with $550 million in equity from India’s Reliance BIG Entertainment and another $700 million that JPMorgan Chase & Co. is assembling, Paramount could have claimed for itself all of the DreamWorks projects in development, since the Viacom unit has owned DreamWorks since 2006.

Instead — like divorcing parents who maintain civil relations for the sake of the kids — DreamWorks and Paramount plan to remain partners on 30-40 projects, while, separately, Spielberg will be involved as producer in another four Paramount projects, including the “Transformers” sequel that will be released next summer.

& #8226;

Read the full

Hollywood Reporter

story.