Spielberg remains Universal Studios' consultant thru 2017

[ALIASd]

Steven Spielberg will continue to serve as a creative consultant for Universal Studios' theme parks through 2017, as part of an exclusive agreement that keeps him from developing new attractions for Disney, where DreamWorks is now based.

An initial put deal, inked in 1987, was set to end next June, which would have forced Universal to pay out hundreds of millions of dollars to Spielberg in exchange for helping design elements of the company's parks, as well as rides.

Spielberg receives 5% of all gross revenue generated by U's two parks in Orlando, Fla., and one in Japan, valued at up to $50 million a year. Universal Studios Hollywood is not included because it predates the initial agreement.

full story at:
Universal Studios retains Spielberg

Helmer to stay on as creative consultant thru 2017

Universal Studios retains Spielberg - Entertainment News, Film News, Media - Variety

[CaliforniaAdventurer]

Re: Spielberg remains Universal Studios' consultant thru 2017

Termination of the deal would have ended the annual payments and instead paid out one lump sum to Spielberg covering the value of his stake in the Orlando parks and others open for at least a year.

The stake in the Orlando park alone is said to be worth more than $250 million.
The one-time payment will now be delayed until June 2017, details of which were disclosed Tuesday in financial filings.

Wow!

[JtnOrl]

Re: Spielberg remains Universal Studios' consultant thru 2017

Let me know when he actually makes himself worth that amount.