Paramount buys Dreamworks for $1.5bn
The Hollywood studio Paramount is believed to have bought rival Dreamworks for $1.5 billion (£850 million). Dreamworks, which was founded a decade ago by Steven Spielberg, has brought a whole range of movies to the screen including Antz, Saving Private Ryan, American Beauty, Gladiator and many others. Spielberg is to stay on at the studios, but will become responsible for producing four to six films per year for Paramount. In exchange for the $1.5 billion price tag Paramount's owners...
Read more