DreamWorks Studios which is the film company co-founded by "Jurassic Park" director Steven Spielberg is reported to be exiting from its partnership with Walt Disney Co after the release of the film "The BFG."
Sources told Hollywood Reporter Spielberg's likely option for a future partner is Universal and that the Oscar-winning director is currently in the midst of negotiations.
According to the publication DreamWorks Studios will next year end its distribution partnership with Disney. Films such as "War Horse" and "Lincoln" have been amoung the film company's productions that have been marketed and distributed by the Walt Disney Company.
The contract between the two companies will lapse in August 2016 and DreamWorks is not looking to renew the agreement. However Disney has declined to comment while DreamWorks and Universal have yet to respond to a request for a comment on the situation.
According to the BBC, Spielberg's film "The BFG" which is based on the book by Roald Dhal is set to hit theatres in July 2016.
DreamWorks was founded in 1994 by Spielberg together with Jeffrey Katzenberg and David Geffen. The studio produced box office hits such as "Gladiator," "Saving Private Ryan" and "American Beauty."
The latest film to be released by the film company is "Bridge Of Spies." Directed by Spielberg, the film is a cold war thriller and will star Tom Hanks. The movie is set to be released in the United States on Oct. 16, 2015.
Meanwhile, Universal Pictures has said a sequel to "Jurassic World" is to be relased in 2018. The film which is a remake of Spielberg's "Jurassic Park" franchise is the third highest-grossing film in the industry behind "Titanic" and "Avatar."