Listen to that - that distant rumbling. Feel the vibration underfoot. Off in the distance, just beyond the horizon - is it a Tyrannosaurus Rex? No, it’s the expiration date of Steven Spielberg’s contract with Paramount Pictures, comin’ up at the end of 2008.

Spielberg, whose recent hits include MINORITY REPORT and WAR OF THE WORLDS - both films starring deposed Paramount star Tom Cruise, is said to be restless.

In recent months, media reports have speculated that the Oscar-winning Spielberg… has been unhappy at Paramount after the company bought the DreamWorks movie studio that he co-founded in 1994 with David Geffen and Jeffrey Katzenberg. A departure is seen as hurting Paramount, whose recent blockbusters “Transformers” and “Blades of Glory” stemmed from DreamWorks. “Transformers,” which Spielberg produced, has generated nearly $700 million at box offices globally.

Paramount, for its part, shrugs it off.

Viacom Chief Executive Philippe Dauman told investors at Goldman Sachs’ Communacopia media conference in New York that Paramount’s diverse portfolio of new movies would minimize any potential damage. “Steven and his team have the right to leave if they choose at the end of next year,” Dauman said. “We’re planning for that.”

I’m all for kicking out the high-priced deadwood, but I’m a little squirmy about kicking out high-priced grade-A lumber like Spielberg. Of course, in this case the lumber would be kicking itself out, but they could fight a little harder for him in public, don’t ya think? What is with Sumner Redstone, anyway? Is he jealous of anyone who makes money? I thought he only hated his kids.

This entry was posted on Thursday, September 20th, 2007 at 3:56 am and is filed under General, Motion Pictures. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.