New York Times reporter Sharon Waxman has delivered a well- reported timeline piece about how the Paramount acquisition of DreamWorks came together earlier this month, and in the process snatching the opportunity from Universal. A $1.6 billion invest- ment in the future — a purchase of the DreamWorks name, of the company’s film library and the prestige factor of having Steven Spielberg working on the Paramount lot and….what else exactly? Spielberg and his two DreamWorks partners David Geffen and Jeffrey Katzenberg will each pocket around $172 million…great. But can someone explain to me how the DreamWorks purchase is going to inject $1.6 billion worth of assurance and vitality into Paramount’s quest to supply big-screen diversion to the dream-seeking, ticket-buying public? The core value of any entertainment company is about generating magic-spark elements and X-factor alchemy, and I’m very skeptical about these middle-aged guys supposedly having a Midas-touch ability in this regard. I mean, I really don’t get it, especially considering the growing belief that Spielberg is past his prime (Munich certainly doesn’t argue against this thesis) and the fact that he’s been talking to friends about wanting to downshift out of directing down the road and putting more of his time and energy into altruistic pursuits, like improving the opportunities for education among third-world peoples. What Paramount’s Brad Grey has purchased, bottom line, is a certain notion of connected- ness (talent relations, industry relationships, a presumptive talent pipeline) and faith in dream-factory fertility.