DreamWorks and Viacom, parent company of Paramount, may be ready for a divorce after their arranged $1.6 billion marriage back in December 2005.

LA Times' Patrick Goldstein wrote a piece this Tuesday noting that DreamWorks co-founder David Geffen is considering leaving Paramount in August over disagreements with his corporate bosses at Viacom and Paramount.

This in and of itself is not remarkable if not for the fact that with Geffen's departure, it will pave the way for Steven Spielberg (under contract until 2010) and DreamWorks CEO Stacey Snider to leave as well. It is said those two are pretty unhappy at their new home also.

Since Spielberg and Snider have an amazing ability to produce blockbusters and to attract talents for their movies, their departures will have a dramatic effect on Viacom's fortunes.

What about the projects in development should the trio depart? That will depends on how attached DreamWorks is to them.

According to the NY Times,

"Given the reach of Mr. Spielberg's contract, attachment to all the projects could let him block Paramount from using them without his consent -- enormous leverage in any negotiation over taking the projects elsewhere."

Given the complexities of the contracts, either the two sides will negotiate something that will work for both sides or the courts will do it for them.

Where will DreamWorks go if not Viacom? Goldstein offered a couple of possibilities.