DreamWorks Nightmare: Major Obama Donor’s Film Studio Under SEC Investigation

by CJ CIARAMELLA April 27, 2012

The Hollywood studio run by one of President Obama's biggest donors is under investigation by the Securities Exchange Commission for bribing Chinese officials to secure exclusive film rights in the communist country-rights secured in secretive negotiations that included Vice President Joe Biden.

The SEC is investigating at least five Hollywood studios-including 20th Century Fox, Disney, and DreamWorks Animation-for allegedly making illegal payments to Chinese officials, Reuters reported Tuesday.

DreamWorks Animation CEO Jeffrey Katzenberg is the largest donor to the Obama reelection super PAC Priorities USA.

Dreamworks announced in February a $2 billion deal with the Chinese government for the company to build a production studio in Shanghai. The deal came just days after Chinese Vice President Xi Jinping held an extensive meeting with Barack Obama in Washington, followed by the Chinese Vice President's trip to Los Angeles to meet with Katzenberg.

The deal was part of a larger agreement under which China increased its annual quota of foreign-produced films to 34 from 20 and increased the revenue it allowed foreign studios to keep to 25 percent from 15 percent.

The additional films must use either Imax or 3-D technologies, according to the deal.

At the time of the deal, Katzenberg spokeswoman Jennifer Lin denied to the Free Beacon that there was any collusion between Katzenberg and the Obama administration.

However, the New York Times reported Tuesday that Biden joined Xi in personal negotiations to secure the deal.

Click Here To Continue Reading

 


blog comments powered by Disqus

'Delicious irony'! Has anti-Semitic Cupcake Crew checked its website lately? [photo]

July 24, 2014  12:38 PM

That's awkward.

'Romney predicted this': Time Magazine cover sparks mockery of Obama's mockery

July 24, 2014  11:56 AM

Mock fail.

'Most disgraceful POTUS ever!' Hey, Obama, project much? His latest lie will make you furious

July 24, 2014  11:47 AM

President Stompy Foot's pants are on fire.

'What stupidity'! NYC's Cupcake Crew goes Godwin, rails against 'Zionist pigs'

July 24, 2014  11:23 AM

"I'd like the Propaganda Pastry with anti-Semitic sprinkles, please."

Oh, my! 'What exactly is happening' in this photo of Rep. Paul Gosar?

July 24, 2014  10:32 AM

What has been seen cannot be unseen.

FSM Archives

More in Homeland ( 1 OF 25 ARTICLES )