Spielberg, Paramount Ankle Each Other

So it turns out Steven Spielberg and Paramount don't need each other after all! Variety brings word of a new deal for DreamWorks:

DreamWorks has finally closed the deal with India-based Reliance to leave Paramount Pictures and create a stand-alone production company.

DreamWorks principals Steven Spielberg, David Geffen and Stacey Snider are severing ties with the Melrose studio. Though the deal, valued anywhere between $500 million and $1.2 billion, has been anticipated for some time, what had been unclear was the fate of DreamWorks' executives, who would have been contractually obligated to remain employed by Paramount. In a surprise move, Paramount waived its right to keep DreamWorks' execs in its fold.

There'll be plenty more to discuss about this over the coming weeks, but for now, it looks like Tintin might have a better chance of getting made. Paramount's statement follows:

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