Universal Orlando's Steven Spielberg dilemma

Discussion in 'General Chat' started by Ham Ham, Sep 2, 2009.

  1. Ham Ham

    Ham Ham Member

    Click on headline for full article at orlandosentinel.com


    Universal Orlando's Steven Spielberg dilemma
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    Over the years, Universal Orlando has built close to a dozen attractions based on movies directed or produced by Steven Spielberg. But the Hollywood mogul may never have been more important to the resort's future than he is now.

    Spielberg is standing between the resort and an April 1, 2010, deadline to refinance $1 billion worth of debt. The reason? Beginning next June, Spielberg, who has held a consulting contract with Universal for more than two decades, can at any time demand a buyout that would cost the resort hundreds of millions of dollars. And the contract is written so that Universal is obligated to pay Spielberg his money before it pays anyone else
     

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