Spielberg Extends Uni Contract

[GADVwow]

Movie director Steven Spielberg agreed not to seek a buyout of his Universal Orlando consulting agreement until 2017, removing a potential obstacle to efforts by the Florida theme park's owners to refinance $950 million in debt.

Spielberg extended an agreement that would have allowed him to seek a buyout in June 2010, Universal City Florida Holding Co. said in regulatory filings. The company is backed by Blackstone Capital Partners and NBC Universal, a unit of General Electric.

Spielberg is paid consultant fees for attractions at the Universal City Florida parks that are based on his movies.
The buyout option jeopardized the refinancing, Moody's debt ratings service said in April. ...

http://www.nypost.com/p/news/business/spielberg_extends_pact_with_universal_zbq7N2xn2djJStS9CZtwGP