UPDATE, 11:32 PM PT: eOne has confirmed its new output deal with DreamWorks.
Press release follows below.PREVIOUS…BREAKING…4:52 PM PT: I’m told that DreamWorks will shortly be announcing that it has made a four-year output agreement with eOne, with that company releasing DreamWorks product in the UK and Benelux.
The arrangement begins with Starbuck, which stars Vince Vaughn and shoots in October.
This will be the first of several deals after DreamWorks aligned with Mister Smith in an effort to be more hands on in arranging distribution in Europe, Africa and the Middle East.
Disney distributes in North America, Latin America, Asia, Russia and Australia.
DreamWorks partner Stacey Snider was at the Toronto Film Festival, and I believe one of her missions was to meet potential distribution partners.
This deal was put in place by Mister Smith’s David Garrett and DreamWorks COO Jeff Small.Now, Reliance fully finances all of DreamWorks films, but this offshore effort will result in advances on films.
While DreamWorks reupped its financing deal with Reliance for a reported $200 million (down from the original $325 million when the companies first linked up) that would cover three to five flicks each year, getting offshore advances should allow DreamWorks the cash flow to make more flicks if Snider and partner Steven Spielberg choose to do so.