DreamWorks SKG Bought Out

DreamWorks SGK is being sold to Paramount Pictures, reports the Wall Street Journal. Buying the DreamWorks studio, formed by Steven Spielberg, Jeffrey Katzenberg and David Geffen, almost doubles Paramount's slate of films for 2006 and would add a library of 60 movies. Paramount may also get distribution rights to films from DreamWorks Animation SKG (producers of Shrek), which is a separate company.

Other film news: An article in USAToday says we can look forward to more ads on the big screen. According to forecasters money spent on in-theater ads increased by 18% this year to $400 million and likely will go up by about 15% each year through 2008.