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Posted: Wed Aug 12, 2009 11:37 am Post subject: Could Spielberg be out of Universal theme park?
News has come out that Steven Spielberg contract is being talk over for Universal theme parks. In the past he has gotten 2% of the park receipts which was heavy sum of 30 to 50 million dollars a year. Man being in the theme park business really is big bucks. So, could Universal go on without Spielberg or is this just a contract nog. Maybe Disney is in there offering Spielberg something for his input into their parks. It be interesting to see what shakes up from this.
Link to the story.
http://www.slashfilm.com/2009/08/...-in-talks-with-universal-studios/ _________________
Last edited by Stingray on Thu Aug 13, 2009 8:33 am; edited 2 times in total
This is interesting. I really didn't know what to make of it when I heard the news. a part of me love the idea of Spielberg adding a special touch to Universal even though I'm sure the creative team at Universal is very capable.
It's cool to catch the Spielberg magic at the ET adventure attraction. The queue has always been amazing to me. I heard that he was influential in letting the ride remain in Florida after it was closed down in USH. I don't know what it is, but there's a special charm and nice story element that draws me to that attraction. I'd hate to see it go, but I'm sure it will if Spielburg pulls out.
Yea, I wonder what will happen too. So help me understand... his contract his being reviewed meaning if they will renew it correct? And if so, what happens to the "Spielberg brand" rides? Do they have to get a new theme or something? I hope that makes sense. _________________
From what I got from two articles by the Orlando Sentinel and The Warp is contract outing clause is coming to a end. It’s was set at 20 years or so, that after the term of time has ended that Spielberg has the option to stop getting his 2% cut from the gates ticket sales and option for a big lump sum payment that is rumor to be in the hundreds of millions of dollars. So if Spielberg wanted to stop getting those 30 to 50 million every year and just go for a big lump sum payment at fair market value that is high on his favor right now. There no change to the rides and they are not going to re-theme them. But it’s rumor that Speilberg is trying to setup a movie studios in India and is looking for some big money. But that Hollywood talk there. _________________
Some good news while we wait for the big 100th show. LA times is reporting that Steve Spielberg will delay is big payout for at least 7 years. This in turn will help Universal Studios parks in restructuring the debt they have struggle with during these hard times. With this much time it give Harry Potter theme park time to succeeded. Also, with GE's looking to sell Universal to potential buyer Comcast this can lead to a better financial ground when Spielberg payment not hitting so company hard.
Here's the links to the story.
http://www.latimes.com/business/l...ersal21-2009oct21,0,2505390.story http://www.allbusiness.com/compan...agement/financial/13266951-1.html _________________
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