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DreamWorks signs five year deal with 20th Century Fox

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It looks like Kung Fu Panda and Shrek will have a new company to be associated with. DreamWorks Animation has announced its five year deal with Twentieth Century Fox’s marketing and distribution team, < a href= http://www.comingsoon.net/news/movienews.php?id=93762> ComingSoon.net reports. The company will be ending its relationship with Paramount Pictures, whom they’ve been distributing films with, in November. LA Times reports that under the new deal, DreamWorks will be paying Fox an 8% fee, which is the same amount they’ve been paying Paramount Pictures. Katzenberg promised his shareholders that he will seek a lower fee in the new distribution deal; it looks like he made some good on that promise. It’s been stated that Paramount has started building up their own animation division with the start of last year’s comedy Rango , which starred actor Johnny Depp and was directed by Pirates of the Caribbean filmmaker Gore Verbinski. It has been stated that the caveman comedy The Croods , will be the first DreamWorks film to be released by Fox. The movie is schedule to debut in theatres March 22nd.