DreamWorks secures new path for 18 films
The Burbank-based studio saw renewed opportunity this week after it announced that it had finalized a deal providing enough capital to make about 18 films over the next three years.
The move means Steven Spielberg and his business partner in the venture, India-based Reliance Big Entertainment, which owns a 50% stake, will now be fully able to realize the long-held plans for independent filmmaking decisions.
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Home Depot earnings beat expectations
Home Depot beat Wall Street expectations Tuesday with the release of its second-quarter earnings report. Profit fell 7%, but that was less than expected, a result of cost-cutting measures since store sales, which include a location in Burbank, were down 8.5% compared to the same period last year, according to the report. Meanwhile, Lowe’s, also in Burbank, reported second-quarter earnings were down 19%. Both companies blamed the deflated housing market and tighter household budgets.
