"ORLANDO, Fla. -- Universal Orlando officials are negotiating with Steven Spielberg over whether to renew a consulting contract.
Tracey Stockwell, principal financial officer of Universal's parent company, said in a conference call Friday that the theme park resort is hoping for a quick resolution.
Under the contract, Spielberg gets a flat fee and a percentage of revenues of movie or television-themed attractions in exchange for advising the theme park resort and working on other projects around the world.
Although there is no expiration date for the arrangement, starting in June 2010, Spielberg has the right to end it. He can then can get a single lump sum payment based on his interests in the Orlando parks and other projects around the world.
Universal's regulatory filings Friday did not disclose the amount involved."
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So Spielberg has the right to either stay with Universal or end this contract in June 2010. If he ends it, I wonder how this will affect E.T. Adventure. I hope nothing happens to it. It is an amazing attraction and it would be a shame to lose it (not to mention the fact that it is the only one left in the current Universal parks). :,( Actually, I'd even cry. It would be like getting rid of Kongfrontation (closed 2002), Back to the Future (closed 2007), Big Bad Wolf (closing this Labor Day), and Python (closed 2006) all over again!
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