Amblin Partners has struck a new multi-year deal with Universal Pictures, which will provide the Steven Spielberg-led production company with more creative and financial flexibility while continuing to give the NBCUniversal-owned studio first-look status on all of its theatrical film projects.
A person familiar with the matter told TheWrap that Amblin will not be acquired by Universal and instead continue to operate independently under a straight overall deal with Spielberg retaining creative control. The individual added that the move may result in a mix of layoffs and some contracts not being renewed.
“Universal is my ancestral studio home, and this next chapter in our longstanding partnership will provide Amblin with the creative flexibility and autonomy that I know will allow us to succeed together in the future,” Spielberg said in a statement.