Universal May Let Exec Exit

Universal Pictures is on the verge of granting former studio chief Stacey Snider an early release from her contract, enabling her to start work as chief executive of the DreamWorks unit of Paramount Pictures.

Paramount confirmed Wednesday that Snider would start her new job April 10.

Snider is expected to be released from her Universal contract by today, according to executives involved in the matter.

When Snider announced plans to leave Universal last month, her boss, Universal Studios President Ron Meyer, took a hard-line position that his longtime movie chief could be forced to serve out the remaining 10 months on her contract.

At the same time, Paramount brass said it was content to wait until Snider’s contract expired for her to begin her new gig.

However, once Meyer named Snider’s replacements two weeks ago -- studio Vice Chairman Marc Shmuger and David Linde, co-head of Universal’s specialty film unit Focus Features -- he had little if any leverage to hold Snider to the terms of her contract.

Representatives of Paramount and Universal declined to discuss the details of Snider’s settlement.

In mid-February, Meyer had granted Snider permission to explore other employment opportunities after the 44-year-old mother of two expressed a desire to possibly give up her corporate executive life for a less demanding job.

Meyer was miffed when he subsequently learned at that point that Snider was already deep into discussions with DreamWorks to join the company. Snider initially contacted DreamWorks co-founder Steven Spielberg about such a possibility after Universal’s bid to acquire his company fell apart last fall.