Spielberg will still retain the rights to co-produce and develop certain movies with Paramount that are still owned by Paramount including the very popular TRANSFORMERS Live Action Movie Franchise.
Under the separation agreement announced Sunday, the new company, to be led by three-time Oscar winner Spielberg and Snider, will develop a number of projects now owned by Paramount, which would have an option to co-finance and co-distribute them.
DreamWorks counts "Transformers" and "Norbit" among its recent hits.
You can read more about it by 'googling' Steven Spielberg, or following this link.