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DreamWorks News: DreamWorks Contract with Paramount Expires
May 24, 2008 - 08:57 AM
After winning the Kentucky Derby on Saturday, Big Brown has a chance to be the first horse to win the Triple Crown since Affirmed in 1978.

But in Hollywood, all eyes are trained on a different kind of thoroughbred. May 1 marked the beginning of a window allowing DreamWorks' top executives to shop themselves around, looking for a new studio deal after a troubled 2 1/2 -year-old marriage to Viacom's Paramount Pictures.

DreamWorks co-founder David Geffen has been on his yacht in Tahiti since late March, but even from that distant tropical isle, his intentions have been made loud and clear -- DreamWorks' top creative team is planning to leave the Paramount lot, a departure spurred by an endless loop of animosity between Geffen and Viacom chief Sumner Redstone and Paramount chief Brad Grey. According to an existing series of contractual outs, Geffen can announce his departure in August, creating an opening for co-founder Steven Spielberg to depart in October, triggering a key-man clause allowing DreamWorks chief executive Stacey Snider to leave as well.

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