Viacom Closes Deal For Dreamworks Library

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Viacom says it has completed its $900 sale of the DreamWorks Film Library to Soros Strategic partners.

Viacom's Paramount Pictures, bought DreamWorks in December and struck a deal in March to sell the studio's film library--Gladiator, American Beauty--to George Soros' Soros Strategic Partners and Dune Entertainment.

Paramount will distribute the 59 titles in a five-year deal, and has "certain rights" to reacquire the library at the end of those five years. Viacom retains music publishing rights, as well as ancillary rights including merchandising and sequels to any of the films.

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