According to the Hollywood Reporter, iconic director Steven Spielberg (Schindler’s List, Saving Private Ryan, Indiana Jones franchise) is trying to raise more than $1bn to make his former company, DreamWorks, independent again.
DreamWorks was formed in 1994 by Spielberg, Jeffrey Katzenberg and David Geffen. It was sold to Viacom, parent company of Paramount Pictures, in February 2006.
Spielberg’s own contract with Paramount expires at the end of this year. It is believed that Spielberg is not likely to renew his contract, so there is much industry speculation about who will distribute DreamWork’s product in the future.