Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, October 13, 1994 TAG: 9411180007
SECTION: BUSINESS PAGE: B-7 EDITION: METRO
SOURCE: Associated Press
DATELINE: BEVERLY HILLS, CALIF. LENGTH: Medium
The company will produce movies, animated films and television programs and will launch a record company and interactive entertainment venture, Katzenberg said.
Spielberg's Amblin Entertainment Co., which produced ``Jurassic Park'' and ``The Flintstones,'' and Geffen's film unit will be merged into the new company.
The three will be equal financial partners, Katzenberg said. It was unclear what specific management duties would be.
Geffen is said to have a net worth of nearly $1 billion, and Spielberg's is put at more than $600 million. Other potential backers include Bill Gates of Microsoft Inc. and John Malone of the cable TV giant TCI, Daily Variety reported.
Katzenberg was the tenacious head of Walt Disney Studios until last month. He is credited with helping revive Disney's animation unit to create ``The Little Mermaid'' and ``The Lion King.''
Spielberg's name on the letterhead is expected to be an important draw. His films routinely make tremendous profits. He directed 1993's most popular and most honored movies, respectively - ``Jurassic Park'' and ``Schindler's List.''
He also has produced animated films, including ``Who Framed Roger Rabbit'' and ``An American Tail.''
Geffen, a record industry legend for his deals with everyone from John Lennon to Nirvana, has been moving into Hollywood. He has a deal with Warner Bros. and will release the upcoming Tom Cruise film ``Interview With the Vampire.''
by CNB