Date: 19th October 2000
Ron Howard and Brian Grazer's Imagine Entertainment has decided to stay put at Universal, signing a new contract with the studio that expires in 2005. Terms were not disclosed.
However, analysts agreed that Imagine probably had the upper hand in negotiations given its importance to the studio, especially at a time when Universal is being picked up by Vivendi as part of the French company's acquisition of Seagram.
Indeed, Universal Pictures chairman Stacey Snider said as much in an interview with the online entertainment daily Inside Wednesday. "You can't look at who we are as a company and not see Imagine as front and center," Snider said.
Source: Studio Briefing