DreamWorks has called off its talks with NBC Universal to buy the independent powerhouse, reports the trades. On Sept. 26, 2005, after two months of exclusive talks between the studios, DreamWorks founder and chief negotiator David Geffen walked away from the table when GE and Universal tried to renegotiate the price after previously settling on a price of around $1 billion.
In addition, the word is that Steven Spielberg didnt like the last minute change and was key for balking on the deal. It is also been said that he has been skittish about control issues as well. Under the deal, DreamWorks would have virtually stripped down to a production label rather than staying a full company with its marketing, distribution and business units in tact under the NBC Universal umbrella.
In response, GE offered this statement from NBC Universal chairman/ceo Bob Wright, "Steven Spielberg is one of the most creative and successful directors and producers in the history of filmmaking. I have the highest respect both for him and for DreamWorks, and I look forward to many more years of continued collaboration."
Insiders say that Wright, along with GE, were urged to rethink the deal by Universal president Ron Meyer.
Rick DeMott
Animation World Network
Creator of Rick's Flicks Picks
