Walt Disney Studios said Monday it has agreed to a long-term exclusive distribution deal with Steven Spielberg's DreamWorks SKG production company after a similar agreement between DreamWorks and Universal Pictures fell apart last week.
the division of Burbank-based Walt Disney Co. will handle distribution and marketing for around six live-action DreamWorks films a year, for a total of 30, under its Touchstone Pictures brand beginning in 2010.
The deal came after Universal balked last week at a demand for $250 million in an upfront loan by DreamWorks' principals, co-founder Spielberg and Chief Executive Stacey Snider. Universal, a unit of General Electric Co.'s NBC Universal, has been cutting costs across the board.
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