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Anil Ambani signs $825 mn deal with Spielberg

Written by: Staff

New York, Jul 16: Anil Ambani's Reliance Big Entertainment signed $825 million deal with Steven Spielberg for their Los Angeles based production house, Dreamworks Studios to make six films a year for global audiences.

Ambani and Spielberg in a joint global conference said the movies produced by Dreamworks will be distributed by Walt Disney globally, while the exclusive rights for India will be with Reliance Big Entertainment.

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Ambani said, "Clearly, the outlay of $825 million is what we are aiming at in the next three years - $325 million will be in the form of equity, $150 million will come from Disney, while the rest will come from banks and others." He also added, "There is no scaling up or scaling down of investment. We will begin with $825 million and this is the largest in recent times."

Spielberg said he was looking forward to films produced by Dreamworks as also to visit India soon to meet with filmmakers, scriptwriters and actors to see how they can all collaborate.

"We have a golden opportunity to have a better control over our product," Spielberg said. "I am very excited that we are in business again and we are independent of any motion picture studio. Now, we feel we have the independence in our partnership with Reliance," Spielberg added.

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