Spielberg takes on studio moguls
LOS ANGELES - Steven Spielberg's appetite for dinosaurs, which led to Jurassic Park, has flared anew, though this time the objects of his prey are Hollywood's major studios, writes Phil Reeves.
The multi-millionaire director is joining two of the entertainment industry's top powerbrokers to launch a studio that will challenge the 'big seven' - 20th Century Fox, Disney, Sony Pictures, Paramount, Warner Bros, MGM and MCA/Universal. The studio unites three men whose credits include some of the most successful films and records ever - Spielberg, Jeffrey Katzenberg and David Geffen.
The company will be run by Katzenberg, who quit as Disney's studio chief in August. In his 10 years at Disney, he oversaw Aladdin and The Lion King. Disney executives will note that the new venture will include animation, make television programmes, and set up a record company.
The founders are close friends with millions at their disposal. Geffen has an estimated dollars 1bn ( pounds 667m) after selling his record company. Spielberg is said to be worth dollars 600m. They are being referred to as Hollywood's 'Dream Team'. For their rivals, it could be a nightmare.
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