Viacom sells DreamWorks Library to George Soros led group

Viacom sells DreamWorks Library to George Soros led group

Viacom has confirmed that they have sold the entire DreamWorks LLC film library to a group led by George Soros. The deal is worth around $900 million and includes rights for some massively popular movies like Gladiator and Saving Private Ryan.

The purchasing parties are Soros Strategic Partners LP and Dune Entertainment II LLC and they would get the rights on 59 live action DreamWorks films. Soros would be signing on a five-year agreement to distribute the library.

This is just one of the many steps Viacom would have to take to finance the February acquisition of DreamWorks SKG. This deal reduces the purchasing cost of the acquisition to around $600 million.

The purchase of DreamWorks also gave Viacom access to Paramount co-founders Steven Spielberg and David Geffen who would now be producing four to six movies this year for the studio.