Spielberg wants to reinvent DreamWorks

At the end of 2005, DreamWorks was sold to Paramount for approximately $1.6 billion. But it seems like Spielberg wasn’t happy with the deal. He now wants to reinvent the company and raise $1 billion in third-party financing to be able to create his own movies again.

Since the beginning of May, his contract allows him to discuss options with competitors. Since then, he has been in talks with Universal, Disney and Fox to distribute the future movies of the company. And while Spielberg is under contract until 2010, he has an escape clauses to terminate the contract if he wants to get out early. As has his right hand Stacey Snider. “Stacey is the next generation, and Steven is very committed to her,” one source said.

Steven Spielberg’s latest film, ‘Indiana Jones 4,’ could be an early sign of his parting with Paramount. The company only did the distribution for the movie, with mixed reviews. Some say the movie should’ve reached a domestic gross of $300 million by now, while it currently stands at a little over $250 mill. And while $580 worldwide seems like a good number, Spielberg might have expected a little more after the +$700 million ‘Transformers’ made last year. A movie he and DreamWorks produced together.