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Dreamworks strikes deal with Disney

LOS ANGELES (Reuters) - Walt Disney Co said it secured a deal to distribute films by Steven Spielberg's DreamWorks Studios in a pact short on details but one that provides much-needed cash for the Oscar-winning director's outfit and reaps long-term revenues for Disney.

Disney Studios chairman Dick Cook said yesterday his unit will market and distribute about six films each year for DreamWorks, the fledgling studio helmed by Spielberg, but refrained from disclosing details of the deal.

The Wall Street Journal has reported that Disney will earn at least an eight percent fee off the box office gross of DreamWorks films, and would lend the studio $150 million. But Cook would only say those numbers were off the mark.

"The ideas are right, the numbers may be wrong," Cook told Reuters in a telephone interview.