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Vivendi Universal to Distribute Dreamworks for Five More Years

16 Apr, 2001 By: Hive News

Vivendi Universal SA's Universal Studios movie unit and Dreamworks SKG agreed to extend their agreement forUniversal to distribute Dreamworks' films for another five years, the companies said.

The agreement, which dates to 1995, gives Universal the international rights to distribute DreamWorks films to theaters and on home video, the two companies said in a press release distributed by PR Newswire.

Universal also has the right to distribute music produced by Dreamworks and to use characters from Dreamworks films in Universal's theme parks.

Dreamworks is the entertainment company controlled by former Walt Disney Co. film chief Jeffrey Katzenberg, Oscar-winning filmmaker Steven Spielberg and music executive David Geffen. It's recently produced such hit films as Meet the Parents and Gladiator.

The American depositary receipts of Paris-based Vivendi Universal fell 1cent to $64.03 today in New York Stock Exchange trading. Each ADR represents one ordinary share.

(Source: Bloomberg News)

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