David Geffen At TCA: “Impossible” To Raise $2B To Start DreamWorks Studio Today

David Geffen is notoriously press and camera shy. (Unless it’s with Maureen Dowd or Barbara Walters.) But he appeared at TCA today for the upcoming PBS American Masters: Inventing David Geffen documentary billed as an “unflinching” portrait of his life. He was brief with his answers to reporters and critics, emphasizing repeatedly this afternoon that he has little to do with showbiz anymore except for the 3 million-4 million stock shares which his foundation owns in publicly traded DreamWorks Animation run by Jeffrey Katzenberg. (He pointed out that he hasn’t even seen Steven Spielberg’s upcoming Lincoln yet “but I’ve heard it is very good” from DreamWorks 2.0.) Geffen said today it would be “impossible” to raise the $2 billion financing that formed the original DreamWorks which he co-founded back in 1994 with Spielberg and Katzenberg as the first new Hollywood studio in 50 years. “I don’t think it can be done today for a start-up. I don’t think anyone can raise $2 billion, I couldn’t do it today.” Geffen repeatedly spoke about the differences in showbiz between when he was coming up in the biz – and now. One of the most dramatic changes? “The demise of the DVD has a huge impact on the finances of the business,” he said. “The business model has changed. The industry will exist in very different ways than we experience it today. It’ll still be here. But I think there will be industries that will be far more profitable.”

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Specifically about the film biz, Geffen said, “The biggest movies in the world have no stars in them today. Avatar has no stars. Avengers, with the exception of the small role that Robert Downey Jr had in it, had no stars. Today it is the story not the stars,” the mogul said. (He bluntly said Rock of Ages bombed because “it was a bad movie.”) Geffen did say what’s still the same is how hard it is to get into showbiz. “It was very hard then, and it is now. A very hard bullseye to hit.” His own early years as a working class Brooklyn boy in the William Morris Agency mailroom in 1964 spanned into the music industry and his early success (more…)

This article was printed from https://deadline.com/2012/07/tca-david-geffen-hollywood-box-office-avatar-the-avengers-dreamworks-tca-pbs-305240/