Par makes a supreme investment

Paramount shares 'Dream' with DreamWorks

Paramount Pictures has signed on as DreamWorks’ dance partner for “Dreamgirls,” the Bill Condon-directed adaptation of the stage musical.

The studios will co-finance the film, a thinly veiled telling of the rise of Diana Ross and the Supremes in the formative years of Motown Records.

Pic stars Jamie Foxx, Beyonce Knowles and Eddie Murphy.

DreamWorks will release the film in North America; Paramount will handle overseas. Production begins in January for a December 2006 release.

Project built its momentum at DreamWorks, where the musical’s original producer, David Geffen, has worked with producer Laurence Mark. They set Condon, who scripted the Oscar-winning musical “Chicago,” to write and direct. Condon adapted the original book by Tom Eyen, and the film will retain the lyrics and music of Eyen and Henry Krieger. Tuner, which bowed in 1981, won six Tony Awards.

Paramount co-presidents of production Brad Weston and Alli Shearmur sealed the deal with DreamWorks production prexy Adam Goodman. The studios have previously partnered on “War of the Worlds,” “Saving Private Ryan,” “Deep Impact” and “Collateral.”

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