Paramount Pictures has agreed to buy the live-action unit of DreamWorks SKG in an estimated $1.5 billion deal, people familiar with the deal said today.
The agreement between DreamWorks and Paramount, a division of New York-based Viacom Inc., comes months after on again, off again negotiations with Paramount, as well as NBC Universal. Viacom will lead a group of investors in the purchase of DreamWorks and the assumption of its debt.
The acquisition does not include DreamWorks' animation division.
