The Walt Disney Studios has agreed to distribute all upcoming live-action motion pictures produced by DreamWorks under their partnership with Reliance BIG Entertainment, part of the Reliance Anil Dhirubhai Ambani Group.
The agreement to enter into an exclusive long-term distribution arrangement with DreamWorks Studios co-founder Steven Spielberg and CEO Stacey Snider was announced in Burbank, California Monday.
Under the terms of this arrangement, Disney will handle distribution and marketing for about six DreamWorks films each year. The first DreamWorks motion picture to be released under the Touchstone Pictures banner is scheduled to hit theatres in 2010.
DreamWorks principals Spielberg and Snider partnered with Reliance BIG Entertainment last autumn to form a new motion picture company. In addition to being a partner in DreamWorks, Reliance will also distribute the new company's projects in India.
"We're both thrilled and honoured to be marketing and distributing all of DreamWorks' signature upcoming live-action motion pictures, and to begin a new relationship with such respected colleagues as Steven, Stacey and their creative team at DreamWorks," Walt Disney Studios chairman Dick Cook said.
"Steven has made some of the biggest and most loved films of all-time, and continues to be one of the great icons of our industry. Stacey has an impeccable reputation and a phenomenal track record for making a wide variety of quality films.
"Their motion pictures will be the perfect compliment to the already robust slate of Disney and Touchstone films being made by Oren Aviv and his team," he said.
"We are tremendously pleased to join forces with Steven Spielberg, whose artistic vision and commitment to quality filmmaking are legendary," said Robert A. Iger, president and CEO of The Walt Disney Company.
"DreamWorks has had a great creative and commercial track record under the leadership of Steven and Stacey Snider and I am delighted they are now associated with Disney," Iger added.
"Disney is the birthplace of imagination and has always been as close to the worldwide audience as any company ever has. I am so pleased that industry leaders like Bob Iger and Dick Cook reached out to become our distribution partner. This is a major step forward for us and Reliance," said Spielberg.
"Under Bob Iger and Dick Cook's leadership, the Walt Disney Company represents the highest standard of quality in our industry. Everyone at DreamWorks is thrilled to be embarking upon this new and exciting partnership and we look forward to our future with their great team," said Snider.