Steven Spielberg aims to raise more than $1 billion in third-party financing to reinvent DreamWorks as a separate company that owns the movie it makes, according to the Hollywood Reporter. As for distribution of the films, there were rumours that Spielberg wants to distribute through Universal Studios (NVBC’s sister company).

On the recommendation of his advisers, Spielberg has allowed a bidding war to begin among Paramount, Universal, Disney and Fox for the right to distribute future DreamWorks movies. The first step for the contact with Paramount was made May1, allowing him to discuss potential offers for his services from rival studios. Spielberg or such advisers as DreamWorks chairman David Geffen and attorney Skip Brittenham have held meetings with prospective studio suitors and financiers, the Hollywood Reporter noted.

In October 1994, Steven Spielbelg co-founded with Jeffrey Katzenberg and David Geffen DreamWorks Studios. Over the next fourteen years, Spielberg directed eight films under the new studio. The series ended in May 2008 with “Indiana Jones” and the “Kingdom of the Crystal Skull.” In early 2006, the studio was sold to Paramount Pictures.

DreamWorks won three consecutive Best Picture Academy Awards starting with “American Beauty,” followed by “Gladiator” and “A Beautiful Mind” (both were co-productions with Universal).

One of the DreamWorks/Paramount co-productions, the World War II drama “Saving Private Ryan,” starring Tom Hanks, released in 1998, was one of the year’s most honoured films, earning five Oscars, including one of Best Director for Spielberg, as well as two Golden Globe Awards for Best Picture.