MUMBAI: Viacom Inc. announced that it has completed the sale of Paramount Pictures' DreamWorks film library to Soros Strategic Partners LP and Dune Entertainment II LLC, an affiliate of Dune Capital Management LP.

The companies announced they had entered into an agreement for the transaction on 17 March.

Viacom's Paramount Pictures announced in February this year that, it closed on its acquisition of DreamWorks SKG for $1.6 billion in cash and assumption of debt. Under the agreement, Steven Spielberg and David Geffen of DreamWorks will remain in their respective roles as producer/director and chairman.