Steven Spielberg’s Amblin Partners and Universal Pictures have changed the terms of their partnership as part of a new multi-year deal.
Under the new pact, Amblin will no longer fully finance its own films, as it has in the past.
Instead, Universal will provide backing for any Amblin movie it opts to produce.There will be a handful of job cuts through a mix of layoffs and some contracts not being renewed associated with the transition.The new relationship seems to be an acknowledgment of the challenges of finding financial partners for movies aimed at adults or that don’t fit into pre-existing franchises — in short, the kind of movies that Amblin, which produced the likes of “Green Book,” “The Post” and “First Man,” tends to make.
Compounding issues, some of Amblin’s more recent releases such as “Easter Sunday” with Jo Koy and Spielberg’s autobiographical “The Fabelmans” stumbled at the box office.
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