NEWSMAKERS: Catherine Zeta-Jones Goes Mogul

Now that you’ve had a chance to recover from word of Michael Douglas and Catherine Zeta-Jones‘ engagement (and if you were living in a cave Thursday, we’ll give you a couple of seconds to recover), we present you now with even more lovebird news:

First, up: According to Britain’s Sun, lawyers for Zeta-Jones, 30, and Douglas, 55, are working on a prenuptial agreement. Douglas didn’t have one of them handy things with his first wife of 22 years, Diandra, and when their marriage formally ended last year, the ex-Mrs. Douglas walked away with a ka-chingable divorce settlement.

Catherine has money she has earned from films but it pales into insignificance compared to Michael‘s,” an unidentified source tells the tab. Of course, if the Zeta-Jones/Douglas merger doesn’t work out, the bride could always cash in the 1920s 10-carat diamond engagement ring (surrounded by 28 smaller stones — in case the big one didn’t impress her), which the Sun estimates is worth as much as $3.3 million.

BUSINESSWOMAN: So, assuming the pre-nup story is true, Zeta-Jones will have to make monetary gains on her own. And with that, she’s formed a production company, Zeta Films.

According to Friday’s Hollywood Reporter, Zeta Films has inked a two-year exclusive deal with Initial Entertainment Group (IEG) to produce between two and six feature films yearly, with budgets ranging from $5 million to $50 million.

The deal was a family affair: Zeta-Jones‘ brother, David Jones, is vice president of creative affairs at IEG; another brother, Lyndon Jones, will acquire and develop material for Zeta Films.

As for Zeta-Jones? She’ll produce the projects she stars in, but she won’t appear in every film from the production company.

FUN WITH CYBERSPACE: Now, Michael Douglas may be very middle-aged, but he went positively Generation “Blair Witch” by announcing his engagement via his very own new Web site (

“I am very happy to announce that I am engaged to Catherine Zeta-Jones,” the actor wrote in a post. “I proposed to Catherine on New Year’s Eve, at my house in Aspen. I met Catherine at the Deauville Film Festival in August of 1998, and we have been dating since March of 1999. We plan to marry sometime this year, however, no date has been set. Check my Web site in the future and you’ll be among the first to know.”

Douglas also invited everyone to join his fan club for a mere $39.99 per membership. With each purchase, you’ll receive, among other things, an autographed photo, a coffee mug and — most importantly – “access to exclusive home photo and video clips.”

No word on whether Zeta-Jones guest stars in the photos or video.

POLICE BLOTTER: Rosie Perez was trying to do the right thing, but got arrested instead. The 35-year-old onetime Oscar nominee (“Fearless“) and seven others were taken into custody on charges of disorderly conduct for demonstrating outside the U.S. mission to the United Nations on Thursday in New York. The group was protesting the Navy’s bombing range on the Puerto Rican island of Vieques.

Rosie is a proud Puerto Rican girl whose family and friends in Puerto Rico are directly affected by the actions she’s protesting,” the actress’ spokesman Dave Pollick said.