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Reliance to provide $500 mn to Spielberg

Reliance to provide $500 mn to Spielberg The Wall Street Journal reported on Tuesday that Movie studio DreamWorks SKG is close to a deal with Anil Dhirubhai Ambani Group, ADAG to form a new movie venture.

The Journal said a deal with Reliance would give movie director Steven Spielberg the cash to finance his DreamWorks team’s departure from Viacom Inc’s Paramount Pictures later this year. Reliance would provide Spielberg and company with $500-$600 million in equity.

The Journal reported that the ADAG and the DreamWorks founders will form a new movie company, which will make about half-a-dozen films every year.

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