DreamWorks SKG, the movie studio co-founded by director Steven Spielberg, Tuesday said it has ended talks to sell itself to General Electric Co.’s NBC Universal unit.
A DreamWorks spokeswoman said there were several sticking points, including price.
“GE originally approached us. It got down to the wire and David (Geffen), Steven and Jeffrey (Katzenberg) walked away,” said the spokeswoman. Geffen and Katzenberg are the other co-founders.
(MSNBC is a Microsoft-NBC joint venture.)
There was no immediate comment from NBC Universal.
The move by DreamWorks came days before the end of an exclusive negotiating period granted to NBC Universal nearly two months ago. Since word of the talks became public in July both sides were optimistic about a potential combination.
Geffen, who led the DreamWorks side in the talks, is known for being a tough negotiator. The Wall Street Journal reported on Tuesday that another factor was Spielberg’s unwillingness to surrender any independence he has at DreamWorks.
