Viacom ( VIAB) confirmed an agreement Friday under which George Soros' fund will pay $900 million for the movie library of recent Viacom acquisition DreamWorks. The transaction, which has been previewed in media reports, covers 59 movies produced by the studio founded by Steven Spielberg, David Geffen and Jeffrey Katzenberg. Viacom's Paramount Pictures announced it was buying DreamWorks last year. With the $900 million infusion, Viacom says its net price for acquiring DreamWorks, which still employs Spielberg, is $600 million. Friday's agreement contains a provision in which Viacom can reacquire the library from Soros and partner Dune Capital after five years, based on fair market values. Viacom will also retain music publishing and certain other rights, including sequel and merchandising rights, and will keep a minority interest in the entity holding the library assets. "After a thorough process that resulted in great interest for the DreamWorks film library, we're pleased to have reached an agreement with Soros and Dune that has outstanding terms for all parties and is well within our expected sales price range," Viacom said. "By significantly reducing our capital investment, this transaction materially increases our expected return on invested capital for the DreamWorks acquisition. Additionally, we retain all the strategic and operational benefits of the combination."