DISNEY - IT'S A (FINALLY) DONE DEAL BETWEEN DREAMWORKS AND RELIANCE

IT'S A (FINALLY) DONE DEAL BETWEEN DREAMWORKS AND RELIANCE

In a deal that seemed to take forever-and-a-day to conclude, Steven Spielberg's DreamWorks and India's Reliance ADA Group finally signed the final documents that puts financing for Steven Spielberg's new studio in place. Reliance will contribute $325 million to DreamWorks funding, with an equal amount coming from an investment group led by JPMorgan Securities. An additional $175 million comes as a loan from the Walt Disney Co., which will receive worldwide distribution rights, except in India, where Reliance will distribute. In an interview with today's (Tuesday) Los Angeles Times, Stacey Snider, Spielberg's partner at DreamWorks, observed, "We got the funding in an environment where credit has been almost impossible to secure."

18/08/2009