The Hollywood Reporter is reporting that Universal Orlando is in negotiations with Steven Spielberg whether or not his consulting contract with the theme park will be renewed.

Under Spielberg's current contract, he receives a flat fee along with a percentage of revenue surrounding television- and film-themed attractions at the park. In exchange, he advises the theme park on attractions.
Apparently there is no expiration date built into the agreement, but Spielberg has the option to end it in 2010. When and if he ends, he can receive a lump sum payment based on his interests.

Universal Orlando's principal financial officer Tracey Stockwell said the park is hoping for quick resolution. The way the Hollywood Reporter is reporting the story, it sounds like the agreement is a win/win situation for Spielberg. Universal gets to use Spielberg's name, it's presumed, which is worth a mint in the film industry. It's hard to put a dollar figure on a name, but no doubt the architects of the agreement between Univeral Orlando and Spielberg have.

Source: Hollywood Reporter

• admin's blog
• Login or register to post comments