Spyglass Signs Deal With DreamWorks

Claudia Eller

Spyglass Entertainment, the independent financier of the 1999 blockbuster “The Sixth Sense,” has signed a deal to finance and produce movies with DreamWorks.

Spyglass, formed in 1998 by co-Chairmen Gary Barber and Roger Birnbaum, was free to enter into the pact after the expiration of an exclusive production deal with Walt Disney Co., which still owns 10% of the company as one of its three equity partners. The nonexclusive pact allows Spyglass to take projects elsewhere if DreamWorks passes.

Under its new agreement, DreamWorks will distribute Spyglass movies domestically and in a few overseas markets, including South Korea and Scandinavia.

As part of a preexisting arrangement, Spyglass and DreamWorks are in production on “Seabiscuit,” a film about the legendary racehorse starring Tobey Maguire and directed by Gary Ross.