DreamWorks Interactive — Film and media moguls David Geffen, Jeffrey Katzenberg, and Steven Spielberg – cover boys of this week’s Time Magazine – went on stage March 22nd with Microsoft’s Bill Gates to announce the formation of a new $30 million joint company, DreamWorks Interactive. In the rumor mill since December of 1994, this new company is expected to focus on highly interactive computer titles, including games and entertainment products. DreamWorks Interactive will be located in Seattle and Los Angeles and is expected to start hiring employees out of Microsoft as early as 01-Apr-95. Considering the net worths of everyone involved, $30 million isn’t a lot of money to start with; however, Gates did note that financial constraints weren’t expected be an operational problem. The company expects to have its first products on the street for the 1996 Christmas season. Taken in the context of Microsoft’s purchase of SoftImage last year, DreamWorks Interactive is expected to be a front-runner in the multimedia industry’s content-and-technology battle. [GD]
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