DreamWorks split from Paramount official

It’s official:

The movie executives Steven Spielberg, David Geffen and Stacey Snider have formally severed their ties with Paramount Pictures, ending a sometimes stormy three-year relationship and clearing the way for a new film company they have had in the works for months.

And their plans for the new venture?

Spokesmen for the companies declined to identify the films. But a person briefed on the agreement — who spoke on condition of anonymity because the filmmakers involved had not yet been informed of their movies’ status — said the arrangement divided about 200 development projects that Paramount owned through DreamWorks into three groups.

The first group includes as many as 20 films to be developed by the former DreamWorks principals with an eye toward possible Paramount involvement. Among them is “The Trial of the Chicago 7,” which Mr. Spielberg has been producing with the writer Aaron Sorkin and the director Paul Greengrass.

The second group of 15 to 20 films will be developed by Paramount.

We tracked this here and here, but never heard this wrinkle in the plans:

Mr. Geffen, who was a principal force in organizing the new company, does not intend to become part of it, Paramount and DreamWorks said in a joint statement.

Interesting, but it seems Geffen has been less involved with the company over the last few years. Also interesting to see if DreamWorks makes a big splash with acquisitions in the next month or so — new regimes and companies oftentimes do that to generate buzz with agents, producers, etc.