ROCKY - DREAMWORKS OUTSOURCES INVESTMENT

DREAMWORKS OUTSOURCES INVESTMENT

After a sometimes rocky and often antagonistic relationship with Paramount executives over the past three years, the principals of DreamWorks, Steven Spielberg and David Geffen, are reportedly close to a deal that would see Mumbai-based Reliance ADA Group invest more than $500 million to revive the company as an independent filmmaker. Today's (Wednesday) Wall Street Journal, citing people familiar with the talks, said that in addition to Reliance's investment, Spielberg and Geffen plan to borrow $500 million. The new DreamWorks reportedly plans to produce about six films a year. However, no studio has yet been selected to distribute them. (DreamWorks Animation, headed by Jeffrey Katzenberg, currently has a long-term distribution deal with Paramount.)

18/06/2008