Spielberg Seeks Bollywood Boost

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The New York Sun

Steven Spielberg’s DreamWorks SKG film studio may soon find a friend in India. The production company, which has been clashing with its parent company, Paramount Pictures, is in discussions with Reliance Entertainment, part of one of the largest conglomerates in India, about a cash infusion of up to $600 million that could allow DreamWorks to split from Paramount.

According to a report in the Wall Street Journal, it could be more than a month before any agreement is signed, but the proposal under discussion would net Mr. Spielberg and his business partner, David Geffen, $500 million to $600 million in cash in return for an undisclosed stake in their company.

Reliance ADA also owns one of the largest telecommunications companies in India, and is controlled by Anil Ambani, the younger brother of India’s richest man, Mukesh Ambani, who runs a rival group. In February, the billionaire financier George Soros bought a 3% stake in Reliance Entertainment for $100 million. Reliance Entertainment executives have said that their goal is to launch a $10 billion company that will be one of the world’s largest entertainment businesses.


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