Hollywood giant Paramount Pictures has announced plans to sell the film library of its recently acquired DreamWorks LLC to a group headed by billionaire George Soros for $900m.
The deal was announced by Paramount parent company Viacom.
The catalogue is to be sold to Soros Strategic Partners LP and Dune Entertainment II LLC.
The move transfers some 59 films that Viacom acquired as part of its deal to buy Dreamworks, the studio co-founded by star director Steven Spielberg in 1994.
They include "Gladiator," "American Beauty," "War of the Worlds," and "Saving Private Ryan."
Viacom expects to net about 600 million dollars from the sale, which is expected to close in April, according to a statement.
