According to the Los Angeles Times, the two studios reached a settlement that would allow:
- DreamWorks to take the lead on 15 to 20 film projects owned by Paramount, which
would have the option to co-finance and co-distribute the movies
- DreamWorks to purchase the rights to new movies or
those owned by Paramount
- DreamWorks to have the right
to co-finance and co-distribute another 15 to 20 projects on which
Paramount will be the lead producer
- Paramount to have
the option to co-finance and co-distribute any new movie that
DreamWorks makes between now and the end of 2009
- Spielberg to retain more than two-thirds of the 150 current DreamWorks employees with him to the new company
- Spielberg to remain as producer of the "Transformers" series of movies for Paramount as well as work together on three other Paramount films, including "When Worlds Collide."
The two originally united in 2006 when Paramount's parent, Viacom Inc., bought DreamWorks for $1.6 billion. The divorce has been in the works for nearly a year, beginning when tensions surfaced between David Geffen, co-owner of DreamWorks, and 84-year-old Viacom chairman Sumner
Redstone regarding internal power struggles, backbiting, perceived snubs and
accusations of credit grabbing. - Gerald Magpily
See L.A. Times article
See Dealscape: Moving on is paramount to Spielberg, Geffen
Another Hollywood marriage ends in divorce. The movie studio started by Steven Spielberg, DreamWorks SKG, has finalized Monday its breakup with Paramount Pictures. 
