Viacom Paramount Pictures, which just bought DreamWorks in December is selling the studio's film library--Gladiator, American Beauty--to George Soros' Soros Strategic Partners and Dune Entertainment for a deal that prices the library at about $900.
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.
"By significantly reducing our capital investment, this transaction materially increases our expected return on invested capital for the DreamWorks acquisition," said Viacom Executive VP/CFO Michael Dolan. "Additionally, we retain all the strategic and operational benefits of the combination."