DreamWorks Animation in five-year deal with 20th Century Fox
New Delhi: Top notch American studio DreamWorks Animation has entered into a new five-year distribution agreement with another well-known banner, 20th Century Fox.
Under the terms of the agreement, Fox will assume certain marketing and distribution responsibilities in both domestic and international markets for all animated feature films produced by DreamWorks Animation for release in 2013 through 2017, said a press statement.
"We are excited to apply their expertise, robust infrastructure and global resources so that DreamWorks Animation`s films can reach their fullest possible potential over the next five years," said Jeffrey Katzenberg, CEO, DreamWorks Animation.
"Starting in 2013, DreamWorks Animation content will be distributed in the more traditional markets under a fee structure that is similar to our existing arrangement with our current distributor.
"However, our new agreement with Fox presents more favourable economics overall for DreamWorks Animation because we are taking advantage of lower costs associated with the emerging digital distribution landscape and managing domestic television distribution in-house," he added.
Fox Filmed Entertainment bosses Jim Gianopulos and Tom Rothman said that together the companies will be a dominant force in animated entertainment for years to come.